After speaking with a couple of interbank dealers, these are the levels which they are watching in the majors:

  • EUR/USD they expect to trade inside 1.4060/1.4130 prior to Europe
  • Cable similarly tight in a 1.6410/50 range but they expect to see some stops under 1.6400
  • AUD/USD .8000/40 but there do not seem to be many orders close to the market so we are reliant on JPY cross moves for some liquidity there
  • USD/JPY is expected to encounter heavy offers at 94.50/60- but we heard the same thing yesterday and it still went up. Bids expected at 93.75.

I’ll now pass over to Sammy for a few hours.