Range trading was the theme for the Asian session for the major currencies but some of the regional currencies strongly outperformed with Kiwi trading to the highest levels since January and with the Korean won also the highest since January. The HKMA was forced once again to intervene to cap HKD gains and has been intervening since Friday to maintain the peg. USD-JPY meanwhile is seen mostly holding around 97-98 into the end of the week with option plays helping to contain prices ahead of the fiscal year end in Japan. The range today was limited to 97.59-97.92 since the NY open. The EUR-USD is seen in a 1.34-1.37 range with price action in Asia contained around 1.3539-1.3618 during the session. Asian stock markets were broadly higher today after the positive U.S. durable goods data and positive gains in the DJIA. Oil bounced back above $53, a level held in Asian much of this week and gold eased, paring only part of the gains made in New York trading. Of note was the news that the Obama administration will announce stricter supervision for Wall Street later today.