We can expect a much quieter day today after the volatile swings of yesterday morning. USD/JPY has fallen back into the mid-81s and whether you buy into the whole repatriation talk or not, it certainly still looks bearish. The USD has lost ground against the European currencies but has managed small gains against the AUD.
I’ve re-stocked on my cable longs as I feel a base is now forming around 1.60 for the next push higher.
I’m on fund-raising duties this morning for my charity of choice but I’ll be back in a few hours. I’ll arrange for any important updates to be posted but please hold the questions and comments until I get back.
Good luck today.
