AUD, JPY, EUR flows: EUR steady, JPY and AUD weak

There’s not much on the calendar ahead of Canadian CPI today, and EUR/USD is likely to stay in the mid to high 1.08s in the absence of news. Overnight saw some USD gains against the AUD as regional equities fell sharply. The 0.67 area looks like effective resistance for AUD/USD ahead of the FOMC minutes on Wednesday. USD/JPY gains attracted verbal intervention from Japanese finance minister Suzuki, but no actual intervention. EUR/JPY made another post-intervention high, hitting a key retracement level before retreating. We are at dangerous levels for JPY shorts, especially given the softer regional equity tone, but it looks like there will need to be intervention once more to trigger a JPY recovery.