There has been very little change in the majors overnight although some heightened risk-aversion has seen the NZD fall by 1% compared with yesterday’s open. Some Sovereign players have been selling the NZD in recent days, and that has weighed considerably.
Order levels which we mentioned yesterday have again held firm which suggests that overall turnover was relatively low. Corporate sellers at 80.60 in USD/JPY provided a cap and corporate buyers at .8100 in EUR/GBP also held firm.
EUR saw plenty of volatility around the ECB but is trading where we left it yesterday.
Golden week finally ends, with Japan still on holiday and the unofficial China services PMI may provide a bit of volatility.
Good luck today and TGIF.
