USD/JPY sits at 83.95, hardly changed on the day. Guess those poor USD/JPY traders need a rest after all that exertion yesterday.
As the morning has progressed I’ve had reports of Middle Eastern sovereign buying, UK clearer buying and most recently cta buying. We haven’t got very far though when all said and done. We had a brief rally, but it petered out at 84.06.
I did hear something mildly interesting though. Heard talk of “smart money” paying for topside short-dated options with strikes at 85.50. Will be interesting to see whether we can reach those dizzying heights in the days to come.
