ForexLive European Morning Wrap: USD Sold Again and Kiwi Marches Ever Higher

The forex trading headlines for the European morning session BOE FPC member Haldane says tear up the bank rules and start again German CPI final March  m/m+0.5% vs +0.5% exp  +0.5% prev French CPI final March m/m +0.8% vs +0.7% exp  +0.3% prev Portgual fin min says he wants bail-out loan time extension to issue a 10 year bond Greek unemployment revised up to 27.2% in January and 25.7% in December Senior BOJ official says there's no  plan to reduce purchases of short-term debt Italian auction goes well. Lowest borrowing costs since January Fed's Plosser repeats that Q3 should start to taper and finish by year-end A lively session that began quietly as markets waited for any news from BOJ governor Kuroda's meeting with financial institutions. With none coming and with USD selling being led by the rampant NZD and AUD it  was time to spread the USD bearishness and we first saw cable break up through sell orders at 1.5350  forcing EURGBP lower to 0.8505. At that point though the pair once again found buyers and we've since seen a rally to 0.8530 which combined with EURJPY breaking up through barrier resistance at 130.50 and 130.75 had forced EURUSD through sell orders between 1.3100-10 to post highs of 1.3135 just ahead of large 1.3140-50 sell interest.This in turn drove GBPUSD higher again and has so far capped at 1.5401 having run into more sell orders. Meanwhile the NZD and AUD march higher still on the back of Japanese outflows into risk/high yield assets with the Kiwi getting an added lift on the back of rising house prices meaning a rise in interest rates. So far weve seen highs of NZDUSD at 0.8677, NZDJPY 86.44 and GBPNZD down to all time lows of 1.7702.AUDUSD bounced back from the overnight weak jobs related fall and chewed through good size sell orders to post highs of 1.0582 ahead of strong reported resistance for the 1.0600 barrier option. AUDJPY has capped at 1.0542 as USDJPY falls back to 99.45, drawn down there by option expiry related sales . More bids on USDJPY all the way down to another large option expiry at 99.00 today but as the morning comes to a close we are seeing the USD still under pressure.