The Nikkei is expected to open lower and the JPY crosses are heavy heading into the Tokyo open. Sovereign names were the big sellers in EUR/USD last night around 1.4300 and with China seen selling USD/JPY above 95.25, this all proved too much for some already overbought pairs. I’m not hearing much on the order/flow front this morning so we may have to wait until the fix before we see some decent flows.
Sammy will take over now for a few hours and try and find some ‘gimme’ intraday trading opportunities.