The risk trade is on a tear as US equities rally nearly 2% on the day. EUR/USD has broken free of 1.4100 but USD/JPY is running into very large offers at 94.00. Dealers say an offer for $200 mln USD/JPY is sitting on the EBS machine.
EUR/JPY has broken above 132.50 as last week’s jitters over a slow global recovery vanish with a dozen or so upbeat US earnings reports….