What’s big on the order board

  • Cable: China repeatedly buying dips to 1.6000
  • USD/JPY: Very heavy offers seen on interbank platforms overnight above 84.00
  • AUD/USD: UK clearer bought a large amount in what is thought to be a one-off flow from .9985
  • EUR/USD: ACB’s continue to buy around 300-400 million (rough guess) every day; sometimes at market and other days on dips

All of the big flows that we know about seem to be USD sellers.

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