The CHF crosses have now started to follow the JPY crosses higher and this looks to me like the beginning of a serious short-covering exercise. Whilst we may see some minor profit-taking or the usual consolidation in Asia, these moves look like the ‘real’ variety and dips are for buying in my opinion.
I wouldn’t be surprised if the BoJ are a bit more active today as Friday markets are more easily moved.
Good luck today and TGIF.
