It's all about risk appetite this morning 27 Sept
With equities now back in negative territory amidst fresh lows for Deutsche Bank it's risk-off time again.
DAX down -0.9%, FTSE -0.4%.
GBPJPY leading the way as ever and that's now sending GBPUSD below 1.2950 after failing above 1.3000 again with USDJPY on session lows at 100.43.
EURUSD also near lows as EURJPY weighs heavy but finding support from EURGBP demand below 0.8650 as per the orderboard
AUD,NZD and CAD also all suffering from the yen demand after earlier rallies.
CHF buying somewhat muted though after the sharp reversals earlier.
It's a topsy turvy morning and not one to over-analyse. If you're don't like jobbing around then best steer clear until the dust settles or your levels are reached. In markets like this it's easy to get caught at the wrong end of a move.
Remember, Forex is fickle. Always has been, always will be.
Ours is not to reason why, ours is just to sell and buy.