ForexLive Asian market wrap: BOJ keeps rates on hold; no new easing measures

BOJ keeps policy rate steady at 0.1% Moody's downgrades 5 Dutch banking groups GBP eases on crosses after BOE Chief's speech Singapore Q1 unemployment rate 2.1% Stockmarkets turn higher in afternoon trade, HK leads way +1% with other regionals +0.3% on average Gold $1626/oz; Oil $84.50/bbl Very quiet session for the main part, with USD/JPY leading the way in terms of volatility. It opened as usual near 79.40 but started to sell-off pre BOJ and fell to session lows after no new easing measures were announced. They weren't expected, but some stale longs bailed out anyway pre-weekend. Solid bids near 79.00 soaked up most of the selling. Ranges: 78.99/79.51 AUD/USD traded down and up in a 40 pip range on positional readjustment and mild sentiment swings. The Moody's downgrade of 5 Dutch banks was the risk-off factor in the morning but recovering stockmarkets after lunch have helped the AUD back to opening levels. Ranges: .9990/1.0028 EUR/USD has had a tight 30 pip range with nobody keen to get involved pre-weekend. The Moody's announcement sent the EUR to its low but interest and flows were light and we are back now at NY closing levels. Ranges: 1.2612/42 EUR/GBP has started to break higher in late trade, working through reportedly solid offers near .8130. The BOE Chief's speech overnight may encourage further GBP selling once London opens. Ranges: EUR/GBP .8113/31; Cable 1.5533/53