ForexLive Asian market wrap:

Australian building permits fall more than expected Regional stockmarkets cutting losses as session progresses, still -1.25% on average Gold $1725/oz Merkel, Sarkozy, Greece, IMF to met later today No surprises expected from Fed later tonight Risk aversion in the morning session as uncertainty surrounded the proposed Greek referendum and ongoing headlines regarding MF Global. This sentiment has eased as the session progressed and mosr pairs will finish the session unchangeds. EUR/USD fell to a session low of 1.3635 in morning trade but this move was mainly driven by intraday players jumping on the risk-off sentiment. No major flows have been reported in today's 100 pip range, 1.3635/1.3731. AUD/USD followed very similar lines to the EUR/USD and was also affected briefly by worse than expected building approvals. Range: 1.0276/1.0367 No sign of the BOJ today although there are rumours that they are sitting below 78.00. Today's range 78.07/41 Cable 1.5915/84; USD/CHF .8846/99