The bullish trend intensity signal for USD/JPY has jumped two notches on back of yesterday's rally, rising to 19. The EUR/USD trend signal is neutral at 18. The GBP/USD trend signal is neutral at 17.
The USD/CHF trend signal is bullish, advancing to 11. The EUR/JPY trend signal is neutral at 30 while the EUR/GBP trend signal is bullish but has now stalled for the third session at 13.
EUR/GBP has been strongly supported by M&A flows with Thomson Financial data showing that year-to-date net flows into the Eurozone from the UK rising sharply to $139 bln between Apr 20 and May 15 from only $26 bln year-to-date to Apr 20th. The proprietary trend intensity signal is updated each trading day after the NY close.
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