Published at 03:04 (GMT) 25 Aug
Very Volatile markets. As Cross/JPY reverse losses again - now back up. After initially falling from highs on news that China Shanghai stocks will open down -6.4% at 3,004.13.
USD/JPY hit day highs of 119.83-84 from 119.15-20 - as some major stock markets reverses losses - turns positive - PKO, covert intervention? HK's Hang Seng now +2% at 21,658 from lows of 21,033.
Good to watch for any large scale state funds, pension funds, PKO - in China stocks - to support the psychological 3,000 level.
USD/JPY offers at 120.00-10, bids at 119 lows - very volatile markets. Good to watch for any rumours of rate checks, PKO, and intervention rumours in Asia FX and also Asian stock markets.
AUD/JPY up at day highs of 86.45-50, up from 85.80-90, and vs earlier levels of 84.80-90. AUD/USD hit day highs of 0.7215 again, offers at 0.7230-50, focus still on downside risks.
NZD/USD up at 0.6510, up from 0.6480-90, focus still on the 6-year lows of 0.6200. NZD/JPY at 78.00, up sharply from 76.50-60 in early trading.
USD/CNY at 6.4101, range of 6.4020 to 6.4241 - eye China stocks.
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