In foreign exchange market news, it
looks like a bit of a short squeeze going on in the EUR/USD and the Cable at the moment with the AUD/USD getting a little leg up on the way. I am guessing those that sold earlier on the back of the move below 1.4200 and 1.2700 are taking them back a little higher.
Cable has bounced nicely after its dip to 1.4160 and is now looking like retesting the 1.4300 level sometime soon. As the the EUR/USD, it is setting new highs for the day against the USD and the JPY with EUR/JPY now above 125.00.
