ForexLive Asian Wrap: Italian Election Results Bedlam … Doesn't Continue in Asia

RBA Assistant Governor Guy Debelle said AUD was not high enough to justify intervention, but policy makers are ready to lower interest rates if needed to counter the effects of the high $A Federal Reserve Bank of Atlanta President Dennis Lockhart said he wants to continue central bank asset purchases at least into the second half of 2013 Cyclone Rusty is heading for a ‘direct hit' on Port Hedland, and has closed other ports, severely curtailing Australia's iron ore exports Asia FX woke up to the chaos and carnage of the Italian election results, took a look, and hit the ‘snooze' button. EUR/USD managed to stretch itself to achieve a 30-point range day. Post Tokyo-lunch EUR lost some ground (finally), going into very early Europe back near its lows. GBP/USD was pretty much the same quiet until finally popping above sell orders that had held it below 1.5200. AUD/USD fell to test 1.0250 bids on the back of Debelle's early comments then ran into good offers around 1.0285. USD/JPY did manage a good-sized rebound from its brief sub 91.00 lows, seeing Japanese buy orders drive it a big figure higher before the Tokyo open, and then another 70 points higher (to just above 92.70) before settling around 92.40. Post-Tokyo lunchtime saw a renewal of yen buying, pushing USD/JPY to 92.10