This pair continues to be the elephant in the room and and has made an impressive recovery after yesterday’s sharp fall following the AP twitter account hacking debacle.
Currently 99.68 after falling back to 99.47 from Asian highs of 99.77
We’ve been in this scenario a few times now and yet failed to penetrate the huge sell interest ahead of 100 so nothing has really changed.
There’s a decent size ( USD500m) option rolling off today at 99.50 which may prove to be a bit of a magnet so we may not see a serious attempt higher until after that, if indeed we are to get one at all.
As usual though, as good boy scouts, we should always be prepared.