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BUND TECHS

(Z1) Corrective Bounce

FOREX

JPY Goes Offered, TRY Plunges To Record Low

OIL

Fresh Cycle Highs

GOLD

Off Friday's Highs

JGBS

Mundane Liquidity Enhancement Auction

FOREX
FOREX: The USD edged higher overnight, with JPY crosses moving to highs on
importer demand for USDJPY which ate through touted exporter selling orders
~107.50. JPY crosses are off highs after the Nikkei moved into -ve territory.
- AUDUSD was lower, last trading at 0.7715, off of lows of 0.7706. Ex-Asia funds
were rumoured to be the driving force behind the sell off, with option related
bids in front of 0.7700, with some A$1.02bln worth of 0.7700 FX options set to
roll off at today's 10AM NY cut. There is also talk of macro sell orders between
0.7730-40. NZDUSD underperformed, losing 30 or so pips after working it's way
through options related bids at 0.7250 to deal at 0.7245 last.
- GBPUSD last trades at 1.4080, with stories suggesting that the EU is set to
reject UK PM May's solution to the Irish border issue and reports pointing to
infighting within the Tory party. Of course the bigger story was the cautious
stance that BoE Carney took in his address made during late London hours.
- USDCAD stuck to a tight range in front of today's Canadian CPI & retail sales
data, while it is also worth noting that there is some $4.6bln worth of
1.2600-1.2700 options set to roll off at today's NY cut.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com