Gerry was prodigious with the flows earlier today but here is a recap from some of our London contacts…

  • China defending a 1.3710 barrier in EUR/USD
  • Stop-loss buy orders building above 1.3710/20
  • AUD vanilla expiries at 0.7700
  • AUD stop loss buy orders at 0.7760/80
  • Russia bought EUR/US to replenish reserves
  • Asian CBs bought cable on dips
  • China sold USD/SEK (Swedish), EUR/SEK. Perhaps bidding for Saab?
  • Middle Eastern sovereign wealth funds selling USD/CAD