I don’t see a real reason for the move back except for a pause in Ukraine doom stories and as I’ve pointed out in the release post, the data is all over the place. It hasn’t stopped the market looking for a reason to buy and stocks futures has moved to unchanged after sinking 8 pts over the European session. US bond yields are also putting the lows behind them for now.
Cable is still clawing its way back up towards 1.6675 while the Euro is just doing the knitting or some such other thing.
USD/JPY is back in the range and looking to confirm another fake break.
USD/JPY daily chart
Maybe Janet Yellen will stoke some life into these markets. I’ve hooked up a keg of Red Bull intravenously in readiness.