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GBP/JPY, AUD/JPY pressured

By   || February 24, 2010 at 15:31 GMT
|| 3 comments || Add comment

We have both risk aversion and USD weakness playing out at the moment it appears as EUR/USD holds in the 1.3560s (“weakness” being a relative term) but the AUD/USD and pound both under a bit of selling pressure.  Reflation trades have been dealt a set-back by the very soft US housing data, which when couples with yesterday’s drop in consumer sentiment, has traders concerned the US recovery is sputtering.

Keep an eye on the short-end of the US yield curve for further JPY clues. A break below recent 0.85/0.86% rates in 2-year notes will likely translate into more JPY strength.

AUD/JPY trades at 80.00, while GBP/JPY trades at 138.60.

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3 Responses to “GBP/JPY, AUD/JPY pressured”

  1. Gabriel on February 24th, 2010 16:15 GMT

    I’ve gone short AudUsd at 89414, it’s coming down, sells were heavy, let’s see where we go from here.

  2. Gabriel on February 24th, 2010 16:23 GMT

    ..and sl hit at breakeven, there’s definetely some strength right now. Placed buy limit and sell limit, one way it has to go.

  3. Steve on February 24th, 2010 16:24 GMT

    Up and down like a whores draws! quaint Old English saying!

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