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  • Writer's pictureMike Paterson

Risk-off sentiment returns

Another week underway and another reminder we live in fragile times as equiti

es fall again giving markets the jitters and looking for safe-havens once more.

GBPUSD duly failed above 1.3300 and has now fallen back to look below 1.3230 this morning helped by GBPJPY and GBPCHF selling once again.Immediate support/buying now around 1.3220 then 1.3200 and 1.3180. Sellers around 1.3300 still then 1.3320 and 1.3350-60. I said on Friday that rally sellers should still prevail on the Pound overall and I stand by that with Brexit and UK government turmoil never far from the headlines.

EURGBP has broken up through 0.8800 again ( GBPEUR down to 1.1348 ) having held 0.8750 and more recently 0.8780. The move higher also helping push down GBPUSD.Buyers  poised at 0.8780 still, 0.8750 and larger between 0.8720-30.Sellers between 0.8820-30 then 0.8850.

EURUSD has been ranging 1.1625-75 also capped by EURJPY and EURCHF selling. Buyers around 1.1620 still then 1.1600 and 1.1585. Sellers 1.1675, 1.1700 1.1730.

USDJPY has fallen yet again to test the 109.30 support on the safe-haven Yen demand. Buyers still lurking down there and 109.00 then 108.80. Sellers around 109.80 then 110.00 and 110.20-30. USDCHF remins steady but seeing some safe-haven Franc demand with EURCHF finding rally sellers into 1.1550

The Aussie, NZ and Canadian $ have all found a few sellers again amid the risk-off sentiment. AUDUSD now has buyers at 0.7400 and 0.7380 then 0.7350.Sellers around 0.7450 and 0.7480. USDCAD buyers around 1.3250 then 1.3230 and 1.3200. Sellers around 1.3320 then 1.3350.

Fickle and fragile markets prevailing still so get your orders in to take full advantage of the moves.

England's World Cup journey and the nation's highly charged expectations continue after yesterday's 6-1 win while England's cricketers completed a first 5-0 ODI white-wash over Australia. Happy days. Let's enjoy each and every one we have, wherever you're from or whatever team you support.

Have a good week out there one and all.

Interbank Rate 09.50 BST GBPUSD   1.3237 EURUSD   1.1651 EURGBP   0.8803 GBPEUR   1.1358 USDJPY   109.45 USDCAD   1.3285 USDCHF   0.9874 GBPAUD   1.7830 GBPCAD   1.7586 GBPCHF   1.3069 GBPZAR   17.8983 GBPHKD   10.2688 EURHKD   9.0411

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