Good morning all. My EUR/JPY position is not looking too crash hot this morning after the big unwind from an obviously long market. I know from an extremely good source that Sovereign names were buying EUR/USD in lots of 250mln around and below 1.4000, so the selling must have been substantial. I suspect that the clean out is now over and that we see a quiet consolidative session here in Asia before an equally quiet shortened European session.
Good luck today.
