EUR/USD: The talk earlier in the week was of very large Sovereign bids at 1.4460. I do not know if this information is reliable now so keep a close eye as the market gets close and watch for market reports. Also a mixture of bids ahead of and stops just below 1.4500.
USD/JPY: Trader stops below 89.25 will attract dealers attention but I’m not hearing much apart from that.
AUD/USD: Talk of Sovereign bids around .8600 from a regional central bank. Also buying interest at .8520/35. I’m sure there are lots of stops in the market as well but I just haven’t heard about them yet. With the s/t momentum turning slightly bearish, we may see the selling come in the form of flows once big levels are broken. The talk in London yesterday afternoon was of AUD/GBP selling flows related to M&A activity- if this is the case, it may be ongoing for a few days.
