Market effectively on hold awaiting the ECB rate decision and Draghi press conference. It’s been like watching paint dry.

EUR/USD sits at 1.3135 from the 1.3143 which greeted me first thing. 8 pip net change, whoppeeee!!

Buy orders seen clustered 1.3100/10, sell stops just below there. Then more buy orders clustered just infront of touted 1.3075 barrier option interest. On topside, sell orders seen clustered 1.3160/70.

USD/JPY marginally firmer at 80.35 from early 80.20. Buy orders seen clustered 80.00/10, sell stops through 79.90. Talk Kampo interest lying in wait down at 79.50/60. Japanese exporter sell orders seen clustered 80.40/50, which are so far capping rally attempts.

Cable effectively unchanged at 1.6180, managing to shrug off poor house price and services PMI data (see both above)

Sell stops seen gathering through 1.6150.