Risk is in fashion but traders are being a bit more particular today than previous sessions. USD/JPY is still tending to wounds sustained yesterday and will likely continue to do so as long as it holds below the 93.50/60 area. AUD too, is trading in more measured fashion as medium-term longs trim positions on rebounds.
EUR/USD is running into offers from Asian sovereigns toward the 1.4050 level this morning; more lie up at 1.4050, we’re told.
