• EUR/USD bids at 1.3800/25 thought to be option player buying back sales from 1.40+. Further heavy bids from 1.3750 down to 1.3650. BIS spied buying around overnight 1.3830 low.
  • USD/JPY buying interest still strong at 95.25/50 with Sovereign names included.
  • AUD/USD bids at .7850 as mentioned earlier. Stops on the day are said to be quite heavy below .7815 but more strong bids seen at .7735/65.
  • BIS and SNB expected to buy EUR/CHF around 1.50. A word of warning here. Intervention in EUR/CHF is generally only seen during the European trading session. Standing orders are not normally left in the market. This leaves open the possibility of stops getting triggered during the Asian session below 1.50 (and the stops are said to be very big) before the Sovereign buying resumes in Europe.