Some risk appetite returns but dark days in Ukraine still.
Wednesday 9 March 2022
GBPUSD Found support at 1.3100-20 but rally tempered by continuing EURGBP demand amid the general EUR love. I remain a rally seller overall but keeping an eye on EURGBP and GBPJPY as always.EURGBP: Decent support now at 0.8320 amid the general EUR relief-rally but sellers will remain poised. ECB tomorrow in focus. GBPJPY: Bouncing from 151.80 this morning amid the better risk tone but jury remains out.
EURUSD: A decent rally and posting highs of 1.0970 from a fresh base of 1.0920. USDJPY: 115.50-60 now supporting amid the better risk sentiment but equally sellers remain poised into 116.00. EURJPY: Support now at 126.30-40 in
USDCHF: Holding 0.9275 in the latest retreat helped by/adding to the EURCHF rally with SNB shadow lurking down here as I've been warning but sellers poised 0.9300 still amid the fragile backdrop.EURCHF: Support now at 1.0130 and posting highs of 1.0185 as I type helped by general EUR demand and SNB support in the dips. Rally sellers poised still though..
AUDUSD: Options assisted support yesterday between 0.7250-65 per my update and now higher again at 0.7325 helped by the better risk AUDJPY and AUDCHF demand but tempered by EURAUD rally too. USDCAD: Capping at 1.2860-80 and now testing 1.28200 amid some CADJPY demand and the variable oil price and USD tones.I still think we'll see some two-way business amid all the uncertainty.Caution required though with so many variables.
Another great win for the mighty Shrimpers last night. Onwards n upwards !!!!
Let's continue to be careful out there in all things. Staying safe must be our main priority still.
Interbank rates: 09.10 GMT