After the greenback rallied across the board in N.Y. trade on Tuesday, price action in Asia on currencies was largely range-bound with traders unwilling to take large positions ahead of the upcoming ECB meeting and the U.S. jobs data. Stop-loss buying emerged on USD-JPY that took the currency pair sharply high from morning lows of 96.17 to 97.00 with USD-JPY the exception to the range-bound trading. EUR-USD, though seeing a slight slide mid-morning, still remained contained between 1.4000-1.4050, a range that held for the prior ten hours before the Tokyo open. NYMEX crude rallied above $70 after the API data showed a slide in crude inventory. U.S. Treasury yields were slightly firmer failing to react to comments from Fed's Yellen that Fed fund rates could stay near zero for years. Asian stock markets were mixed with Australia and New Zealand shares lower but shares in Shanghai rising on the PMI data while Taiwan surged over 2% on hopes for investment
