Just seeing that Morgan Stanley raised its targets for Brent crude on geopolitical risks.
The market is heading in the other direction with metals and soft commodities leading the way lower. Oil is still up on the day.
Interesting that once again USD is outperforming JPY as risk comes off.
Update: on the USD/CAD move there is talk of sales at a US custodial bank buying EUR/CAD and EUR/AUD. Lots of money coming out of EUR shorts today.
