USD demand still prevailing as European desks get underway

The recent trend seems in no hurry to change just yet 28 Sept

Focus remains on hopes that Trump’s tax reforms will find support and the Fed will eventually get around to hiking rates before anyone else.

USDJPY now back up to 113.08 with support/demand building at 112.70 and 112.50.

EURUSD posting session lows of 1.1721 as are AUDUSD at 0.7813 and GBPUSD at 1.3362

Yesterday I poured some cold water on the CBI retail sales report-led move higher and suggested fresh short positions up there with EURGBP demand/support around 0.8750 also notable. Month-end BUBA buying interest in play.

I hope some of you took heed and made a few pips. Support-demand remains into 1.3350 so don’t get too greedy. Today’s GBP focus centres on speeches by Carney and May on the 20th anniversary of BOE independence. Expect lots of back-patting rhetoric with May to spout forth on the values of capitalism/Conservative policy.

                                               GBPUSD 15m

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