Light changes ahead of European trading today ...Middle East

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The big news from Asia is that China moved to cut its 5-year LPR by 25 bps here. It's the largest cut on record but is it too little, too late? The idea here is to try and stimulate credit demand but I fear that the damage has already been done over the last year or so.The Chinese yuan remains under pressure but the PBOC is keeping a firm lid on USD/CNY still. The pair continues to keep just below 7.20 with a hard line drawn at that level currently:The major currencies bloc continues to show light changes since yesterday as we get over the long weekend hangover. USD/JPY is up slightly by 0.2% to 150.40 but remains within the realms seen last week. Besides that, the changes are minimal across

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Light changes ahead of European trading today ...Middle East

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