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Early bid in the Pound

FOREX
  • Not too clear on this early Sterling bid, now at best levels versus EUR, USD, and JPY.
  • USD is also better bid despite the relentless Risk On tone.
  • Higher US yields likely helping.
  • Nonetheless, zooming out in the chart, moves are really limited and within past ranges.
  • Estoxx (VGU1) makes another session high, while Mini S&P is near the all time high printed yesterday at 4542.25, now at 4536.5
  • Cable resistance moves down to 1.3775, followed by 1.3808 High Aug 31
  • USDJPY test immediate resistance at 110.27/46 High Aug 27 / High Aug 13, on the back of Risk on and higher US yields

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