Lots of “just get it done” business going through the markets today ahead of the holiday weekend.
Traders saw good buying of dollars against CHF and EUR at 14:00 GMT. With many banks now offering hourly fixes to their clients, that seems to be the spark for the latest move, though there could have been an options component as well…
USD/JPY has broken through the selling orders between 90.60/80 and targets the 200-day average above the market at 91.03. Expect some stops above that level.
Traders also note lots of interest to swap currencies around between components that normally don’t trade much against one another…things like SEK/JPY, for example.
