Asia Recap: Tight ranges, Aussie recovers

FXStreet (Bali) - An unsurprisingly slow Asian session, with the only real move to report a 'mysterious' 40 pips sell-off in the Aussie which was later unwound to regain the 0.90 handle.

AUD/USD saw a session low of 0.8969 in early Tokyo trade, however, the frenzy flash decline (no attributed to any headline) found no sellers willing to drag prices lower, leading to a slow but steady recovery towards the 0.90/0.9010 area.

The Yen traded with little impetus, grinding slightly higher towards 102.40 (highest of the session) before stabilizing at 102.25/35. USD/JPY needs to break above 102.70/103.00 in order for buyers to re-group for higher targets.

The rest of currencies traded in small ranges. There was only one economic indicator of interest in Australia (construction word done), which disappointed in the final reading fo Q4 2013, after a -1.0% q/q vs +0.2% expected.

Main headlines in Asia

BoJ speculates on further QQE to offset Fed taper effects

Yuan weakness should not spook markets - BBH

What's up with the Chinese yuan and what does it mean for Australia

PBoC laying the groundwork for USD/CNY band widening - ANZ

Australian construction work done misses expectations

Japan's nuclear generation set to resume - Nomura

NZ FinMin reference to rate hikes ignored by Kiwi traders

Aust Trade Minister: A$ at 85 cents or less, will help stablise our situation and make us more competitive