Still bogged down around 77.00 despite the dollar strength elsewhere on the back of all the China/Italy bond buying talk which doesn’t appear to be on the menu.
EUR/JPY ‘s looking sick again since the breakdown through 105.00 earlier, with a low of 104.41. A possible retest now of yesterday’s low of 103.89 can’t be ruled out.
N.B. Latest i’m hearing through the grapevine is a piece trom a US advisory “think tank” stating that CIC cannot in invest in Italian paper at the moment as they’re fully invested and would need cash from SAFE and a mandate to buy BTP’s.
On the order book USD/JPY has bids 76.90.95 and 76.65/70, with some talks of stops through the lower level. Offers have been dragged down to 77.25 and 77.35/40
