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USD Sell Order at 0700GMT Keeps Pressure On

USD
MNI (London)
  • Looked like a USD sell order went through at 0700GMT, the action taking cable to $1.3393, just shy of its recent high at $1.3398. The move outpaced EUR/USD's reaction which dropped EUR/GBP back toward its key 10-dma level (current Gbp0.8928) having been rejected again from the Gbp0.0900 area.
  • EUR/USD managed to extend its recovery, off Monday's pullback low of $1.1924, to $1.1973(61.8% 1.2003-1.1924 Monday's pullback), a break to expose $1.1984(76.4%) ahead of the $1.2003/11 area. Monday's close above the October high of $1.1881 seen providing for an outside month and technically keeps upside in focus.
  • USD/JPY was showed down to Y104.30 but traders aware that the Y104.00 level holds option interest for Thursday's NY cut, $3.45bln of USD puts roll off and likely to draw protective buys ahead.
  • USD holds most of its gains at writing.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
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MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets

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