More of the same as Greenback jury remains out
Monday 24 August 2020
Lots of good two-way business again at the moment amid the variable USD sentiment as we wait on the Jackson Hole virtual symposium this week with US Federal Reserve Chairman Powell speaking on Thursday at 13.10 GMT.
GBPUSD has seen another decent retreat from above 1.3200 and posted lows into 1.3050 again before finding the dip demand once more and now back above 1.3100 again but sellers remain poised.EURGBP rallied as GBPUSD declined but finding sell interest around 0.9030 again this morning. Dip buying expected still as we head into month-end but all ranging still.GBPJPY dcapped at 139.00 but finding support this time at 138.30 with good two-way pips to be had still.
I stay poised to sell GBP rallies overall as my preferred side and buy back in the dips as ever.Patience will continue to be a virtue and entry level key as always. I still expect to continue seeing dip demand though as we continue to range.
USDJPY held 105.50 but failing above 106.00 and ranging still. EURJPY also ranging amid the variable risk and USD sentiment. EURUSD has found support at 1.1750 after Friday's softer EUR tones generally with EURCHF, EURGBP and EURJPY all higher again too as these fickle markets continue. USDCHF capped at 0.9135 as EURUSD based on Friday and now posting lows of 0.9096 as I type.
AUDUSD held 0.7140 this time and now back above 0.7180 while USDCAD capped at 1.3230 this time but finding support at 1.3150 so far this morning.
Markets are ever-fickle so do contact me if there's areas of trading these markets that you might need some further help with.
I wish you good trading and let's continue to be careful out there in all things. Staying safe must be our main priority still.
Interbank rates: 09.13 BST