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  • Writer's pictureMike Paterson

Risk-on returns

Wednesday 13 February 2019

We've seen the fears of another US govt shutdown talk recede and US/China trade talks take a positive turn and in these ever fickle times that's been enough to see some risk appetite return with JPY and CHF selling once again notable. Brexit fallout still stealing a lot of the headlines as yet another parliamentary debate/vote begins today,concluding tomorrow.

GBPUSD has now been back up to look at 1.2920-30 again helped by the renewed GBPJPY and GBPCHF demand while EURGBP has been tightly bound again with GBP and EUR still moving in tandem by and large.I remain GBP bearish overall and continue to rally-sell.No change as far as I'm concerned right now.

EURUSD has also found dip demand after holding 1.1250 helped by EURCHF, EURJPY and EURGBP buying while USDJPY continues to look underpinned helped by the JPY selling but jury out still on risk sentiment imho. USDCHF also remains underpinned helped by CHF selling and renewed EURCHF demand and we've been up to 1.0077 EURCHF finding demand around 1.1380 to post new recent highs of 1.1414.

AUDUSD continues to look soggy overall but has now broken up through 0.7120 to post 0.7136 helped by AUDJPY before fading USDCAD failed above 1.3280 again and has been back to test 1.3200 support with some CADJPY demand also in play again.

Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.

Disappointing result for the inconsistent Shrimpers last night losing 3-0 after a bright start to both halves. Tough game back at the hallowed Hall this Saturday but hey, it's live on TV at 12.30 so make sure you tune in ! Congrats to England's cricketers for finally getting their WI tour act together. Bring on The Ashes !!

Have a good day one and all.

Interbank Rate 08.30 GMT

GBPUSD   1.2910

EURUSD   1.1323

EURGBP   0.8773

GBPEUR   1.1398

GBPAUD   1.8141

GBPCAD   1.7080

USDJPY   110.68

EURJPY   125.34

GBPJPY   142.85

AUDUSD   0.7114

EURCHF   1.1390

USDCAD   1.3232

USDCHF   1.0058

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