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