FX markets seeing some US dollar buying again 1 MarchIt’s been painfully slow this morning but we’re seeing some USD demand but with yen buying still helping to cap USDJPY.
GBPUSD down to 1.3739 after failing above 1.3755 and EURUSD chewing its way down to fresh session/7 week lows of 1.2167 with option interest at 1.2150 the potential target. EURGBP is hanging onto 0.8850 though and that’s helping to cap GBPUSD again.
USDCHF underpinned above 0.9430 and posting 0.9467 session highs with USDJPY drifting up to 106.78 but hemmed in by 106.50 demand and 107.00 sell interest. USDCAD underpinned above 1.2825
A raft of data on its way at 13.30 GMT so let’s see what the algos make of that but I expect more of the same even if we don’t fly anywhere in a hurry on fragile conditions prevailing with equities still on the back foot.