Overnight markets saw a continuation of the trend which started in Asia yesterday morning, with the USD gaining against virtually all the majors except for the JPY, where it stood still. GBP and AUD were the two biggest losers initially although both have clawed back some ground on the crosses. This may be the beginning of a lengthy phase so I prefer to sell rallies in both AUD/USD and cable and see how the market develops from here. I am a little less bearish on the EUR/USD where Sovereign demand is likely to make the falls less spectacular.
Good luck today.