The Treasury department is holding a background briefing in advance of the G20. Exit strategies will be discussed, but likely not implemented (Didn’t they just do that in Pittsburgh?). Currencies will likely be discussed in the context of macroeconomic discussions, the Treasury official said.
In other words, not much news is to be expected.
EUR/USD has rallied to test resistance at the 1.4720 level/ Offers are seen through 1.4730. Look for short-covering to accelerate above 1.4730.
GBP/USD has rallied to new highs after breaking 1.6420 resistance. More is seen at 1.6437 and 1.6465.
