The USD selling binge which continued from Asia into Europe last night finally eased a bit but the greenback is still looking very vulnerable. I managed to sell a small portion of my long term cable position at the overnight highs, which has me feeling quite clever. I’m expecting some consolidation there roughly between 1.64/1.66 before the next move towards 1.73 gets started. I’ve also taken a small long USD/JPY position with an oco at 80.80/84.80 as I think the USD sell-off has been overly quick and if the greenback bounces then it will most likely do so against the JPY.
Many Asian financial centres are open today so lets see if anything happens; if not, we’ll finish up a bit early.
Good luck today, TGIF, and Happy Easter to all.
