Loads of movement but not a lot of news pushing prices around today. Deal first and ask questions later seems to be the motto in the interbank market.
EUR/USD has rallied sharply, up to 1.2733 thus far. USD/JPY is finding demand in the 84.20s and has rebounded to 84.40 Even cable is firmer, though EUR/GBP remains in demand…Tough to get wedded to any fundamental theme this morning beyond there are lots of flows to be transacted between now and the end of the day with much of the action a bit less than two hours away at the 15:00 GMT fixing.
Unless you see a compelling level or trade that you want to have on for a while, stay on the sidelines. It’s gonna be choppy.