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Paring some losses

USD
  • An underlying bid seems to be appearing in the Dollar, pushing the EUR to session lows, Cable sees another spin cycle and look to test its intraday low of 1.2704.
  • USD test session high versus the NOK, MXN, CZK, PLN, EUR.
  • After being widely in the red against all G10s overnight and pre EU Govie open, USD is closer to flat with the EUR, NOK, CHF, CAD and the Pound.
  • AUD still leads, but by only 0.23% now, while USDJPY trades back at its mid range, some ~90 pips off its low.
  • Main focus in FX option this week is on the AUDUSD, with 6.64bn worth of option between 0.6565/0.6630 for Tomorrow's expiry, could act as a magnet.

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