Forex news from the European morning session 29 Oct



Not a whole heap to report as markets wait with bated breath for Yellen & Co later but there’s been plenty of rhetoric to digest

GBPUSD opened at 1.6145 but has drifted off all morning posting 1.6110 after weaker than forecast UK lending data but mostly been 15-25 with EURGBP finally popping 0.7900 but then retreating from 0.7907

EURUSD began the session at 1.2745 and it too has dribbled lower to 1.2724 but stalling ahead of EUR3bln option expiries between 1.2700-25 later.

USDJPY held firm above 108.00 but its been pinned in a tight range with cross plays the main interest while USDCHF remains on a softer track around 0.9460

USDCAD has finally popped decent bids at 1.1150 to post 1.1140 in recent trading while AUDUSD has looked well supported with EURAUD selling noted but 0.8900 offers still cast a shadow. NZDUSD has held Asian gains but mostly been around 0.7940

So we’re set for more of the same as we wait on the FOMC rhetoric.