GBP/USD is in recovery mode after overnight fears of a Chinese rate hike helped prompt dumping of carry trades. As those jitters settle down, the pound is recovering across the board, boosted particularly by GBP/JPY. Reports of Russian buying interest on dips in cable are helping giving spec longs courage to hang on this morning as well.
Rebounding US equities are helping give the market the green light to reacquire riskier assets like GP/JPY. Offers in cable are eyed in the 2.0040/50 window near-term while support is seen in the 1.9985/90 region.
No comments:
Post a Comment