Written by FastBrokers House – Most interest has been on USD/JPY and we have seen the pair grind its way higher amid some quite large turnover. The weak machinery orders and prospects of rising US rates kept the pair well bid and the North Korean military drills provided the momentum to break through heavy offers at 83.70 and trigger stops above 83.80. Ranges: 83.47/94, EUR/JPY 110.54/111.05
EUR/USD rallied initially after a failure to break below some hourly support at 1.3240 but with offers aplenty above 1.3300, any rally was likely to be short-lived. The break higher in USD/JPY was the catalyst for stops below 1.3240 to get triggered but momentum to test more support at 1.3200 was lacking. Ranges: 1.3215/80
AUD/USD has traded along dollar lines for the last few sessions, weing led by USD/JPY. Some modest buying in early trade saw the pair to its session highs at .9855 but long-liquidation ahead of an expected Chinese rate rise was always likely to cap rallies. Ranges: .9780/.9855
Cable has also traded with a heavy tone after solid offers around 1.5800 gave bulls their fill over the last few sessions. EUR/GBP has had an unusually quiet session. Ranges: Cable 1.5709/64, EUR/GBP .8405/27
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