The NZD/USD closed around .6780 in NY and has traded below .6740 in early interbank trade, USD/JPY is about 10 pips below it’s NY closing level and the other majors are relatively quiet which suggests no major orders close by. There has been no significant market moving news over the weekend but the trend seems to be turning in the JPY crosses and the path of least resistance there might well be down. But remember it’s August, with it’s traditional thin markets suckering us into trades which look to be a certainties, only to take it all back a few days later.
Good luck today.
