Tale of two halves - Traders faded the........>

FOREX: Tale of two halves

- Traders faded the risk-off theme ahead of the NY crossover, underpinned by

firmer global equities.

- USDJPY initially pressured by UST yields, recovered off lows of 109.21 to the

109.55/60 area. JPY crosses also benefited with modest gains seen for GBP, EUR &

AUD. Gold dumped $8 on the move to $1276.21, before fading. 

- GBP remains in bearish territory with continued uncertainty surrounding Brexit

& the political outlook. GBPUSD printed lows of 1.2654, while EURGBP rallied to

Gbp0.8841, targeting a break of Friday's high & 50% fibo at Gbp0.8850/60.

- CHF sits bottom of the pile with losses of 0.50% against the dollar. USDCHF

rallied to Chf1.0092 ahead of the WMR fix with topside focus on a break of the

psychological Chf1.01 level.

- SEK underpinned by the stronger-than-expected Consumer inflation print,

triggered modest gains. EURSEK touched react lows of Sek10.6734, before fading.

- USDTRY breached its short-term trend channel, briefly traded under the

Psychological Try6.00 level, before dip buyers cushioned falls.