Written by FastBrokers House
Euro has seen some general slippage this morning, albeit nothing too major.
EUR/USD down at 1.3945 from early 1.3975 having been as low as 1.3924. The pairing attempted to rally early but ran into decent selling from a “AAA name” ahead of 1.4000. Never did get the name of the entity, but was either a sovereign or well known Dutch bank. From there it’s been a slow slide lower. The comment from German coalition sources re Greek debt (see above) got some attention and helped weigh on the pairing.
USD/JPY down at 80.65 from early 80.90, having been as low as 80.63. Model funds notable sellers early pressuring the pairing. But US investment bank (who doesn’t do God’s work) bought decent amount around the lows. Didn’t manage to lift the pairing but at least lent it some much-needed support.
USD/CHF effectively unchanged at 9165 from early 9170. Sovereign sold above 9180 helping ensure topside limited. EUR/CHF down at 1.2775 from early 1.2820. Hardly a major surprise given the huge uncertainty still surrounding the Japanese nuclear power plant situation and the MENA (Middle East/North Africa) tensions which seem to grow daily.
Cable sits at 1.6070, effectively unchanged on the day, early rally floundering at 1.6131.
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