Written by FastBrokers House
EUR/USD sits at 1.4045, some 9 pips below where it was when I came onboard. Buy orders seen 1.4000/20, sell orders 1.4090/00 and neither set of orders ever really looked threatened.
Cable down at 1.5975 from early 1.6010, having been as low as 1.5934 at one stage. Stops tripped through 1.5980 and 1.5950 accelerating the sell-off. Investment bank selling noted. Also reports of large sell order in GBP/AUD going through early, said to be linked to insurance payments for Queensland floods.
EUR/GBP up at .8795 from early .8775, real money buying noted out of the gate. Talk of stops above 8820, but also conflicting reports of sell orders lined up in .8820/30 area. In the end we got as high as .8819 before turning south.
AUD/USD up at 1.0280 from early 1.0260, having been as high as 1.0314 as 1.0300 barrier option interest was taken out. Talk of decent GBP/AUD sell interest helped buoy the pairing. As did the Reserve Bank of Australia tipping huge capital inflows (see above)
USD/CHF down at .9185 from early .9210, EUR/CHF down at 1.2903 from around 1.2943, having been as low as 1.2889. Swissy garnered a little strength from IMF raising spectre of early SNB rate hike.
USD/JPY unchanged at 81.70 in very quiet trade.
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