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  • Writer's pictureMike Paterson

Better risk tones again as the new week gets underway

Monday 13 September 2021

Some firmer risk sentiment and USD tones being seen again as European trading gets underway with some JPY supply that's underpinning core pairs as equities, yields and commodities all show some strength to start the week.

As we continue to range remember that patience and discipline in trading are key as ever, and not being greedy.

GBPUSD: Some more pips banked in latest retreat from 1.3880+ per my tweet. Some good two-way action though still expected and I remain a rally seller while keeping an eye on EURGBP and GBPJPY as always. EURGBP: Supported still around 0.8520 after to break back up through 0.8550 as I warned on Friday.GBPJPY: Support at 151.80-00 still as I've been highlighting but failing at 152.60 and now 152.30 in the rallies amid the variable risk tones generally. Sellers still poised when risk sentiment fades.

I remain a GBP rally seller across the pairs but being patient as ever. These are risk sentiment markets and ever fickle so good/tight position management essential.

EURUSD: 1.1800 support now broken after capping at 1.1850 and some pips banked in the retreat to 1.1785. USDJPY: 110.20 in sight having held 109.80 after the initial cap at 110.00 amid the variable USD/risk tones. EURJPY: The pivotal 130.20-30 area still capping rallies and back testing 129.70 amid the gnerally soggy EUR tones despite better risk sentiment support. USDCHF: Holding 0.9150 still on Friday and now 0.9180 again as we break up through 0.9200 and with the SNB ever vigiliant and EURCHF steady. EURCHF: Still holding 1.0830 amid the better risk tones and with SNB shadow ever present. Dip buying still the preferred trade but not greedy in the rallies.

AUDUSD: Still holding 0.7340-50 amid the firmer risk/commodity tones where we also have some option interest today after the retreat again from 0.7400. USDCAD: Good support coming back in at 1.2580 but rally capping at 1.2700 this time amid the firmer oil/risk tones and hence CADJPY demand but support now in at the pivotal 1.2640-60 area.

What an amazing story Emma Radacanu has produced and looks like she will continue to produce for a while yet. Certainly some compensation for my 500 mile round trip to see Southend crumble at Halifax. Worrying times. Still. As for the England-India 5th Test cancellation, don't get me started........

Let's continue to be careful out there in all things. Staying safe must be our main priority still.

Interbank rates: 08.35 BST

GBPUSD 1.3810

EURUSD 1.1785

EURGBP 0.8534

GBPEUR 1.1723

GBPJPY 152.11

GBPCAD 1.7504

GBPZAR 19.5787

GBPHKD 10.7580

USDJPY 110.11

EURJPY 129.75

EURCHF 1.0848

EURHKD 9.1768

AUDUSD 0.7359

USDCAD 1.2675

USDCHF 0.9205

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