It looks like we are in the calm after the storm, with FX markets suddenly going quiet, or are we perhaps in the eye of the storm? The problems in Europe and the US haven’t magically disappeared and will certainly be revisited.
For the moment at least, the CHF remains under pressure as we await Swiss plans to keep the CHF from strengthening further. USD/JPY is comatosed and unable to move, but the fact that this is happening 50 pips off all-time lows will surely be worrying Japanese officials. EUR/USD is still in a broad sideways trading range and the AUD is at the mercy of risk-appetite.
Good luck today
