The EUR, AUD and JPY are little changed compared with yesterday’s open and only the GBP has moved, losing ground in one sharp hour’s trading overnight.
The EUR remains dependent on Greece-related announcements for volatility and the stand-off between Sovereign names and short-positioned hedge funds continues. The AUD/NZD cross is back below 1.30 which will be disappointing many bulls out there and this is weighing on the AUD/USD. USD/JPY was unable to break above heavy selling yesterday at 90.65/70 and we can expect some quiet ranges today I expect. GBP is still likely to be the most volatile with nobody too sure which way it’s likely to go or what exactly is the main factor driving it.
Good luck today.
