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GBP is the best early performer

FOREX
  • The Pound is still the best performer, albeit off its best level against the Greenback, on the hope of more Mini budget reversals.
  • Nonetheless, still an 158 pips range overnight for the pair.
  • Resistance for Cable, is seen further out, towards 1.1380 High Oct 13
  • ALL EYES remains on the USD/JPY, and risk of more potential BoJ intervention.
  • Although flat, it's still trading near 148.86, Friday's high, which was another multi decade high.
  • Market participants will be watching for any attempt towards the big psychological 150.00 handle.
  • Immediate resistance is still at 148.86, and clear break above the latter, opens to 149.22 3.382 proj of the Aug 2 - 8 - 11 price swing.

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