ForexLive Asian forex market wrap: quiet ranges again in Asia

Japan’s unemployment rate remains at 4.9%
Japan’s February industrial output -0.9%
Australian PM says Chinese relations can withstand disagreements
Chinese central bank adviser calls for resumption of Yuan rise
Regional equity markets rise by 0.5%

A very quiet NY afternoon session set the tone for a similarly quiet Asian session with most on the majors in 30 pip ranges. The JPY crosses saw some selling on the approach to the Tokyo Fix led by exporters but these losses were subsequently reversed.

USD/JPY opened around 92.50, fell on exporter selling to a low around 92.15, recovered post-fix to 92.40 but has since drifted lower again in very insipid trade. Range: 92.13/55

EUR/USD has only had a 23 pip range between 1.3472/95 and traders have stayed on the sidelines in the absence of any important developments.

Cable has also had an unusually quiet 1.4975/99 range.

The AUD slipped a little in early trade from its .9180 NY closing level as the market focussed on the Rio Tinto trial in China. These losses have been reversed in atight .9160/91 trading range.

Markets: Nikkei +0.5%, HK +0.5%, Kospi +0.2%. Gold steady at $1109/oz