Some USD demand seen but still ranging

Thursday 27 May 2021

More of the same as FX pairs continue to range tightly amid the all the CB/inflation uncertainty but we've seen the Greenback make a few gains along the way.

Yesterday the month-end Spot value London fix did indeed see some USD demand so forewarned was forearmed. For me all info is there to go into the mix. How you apply it in your trading, or choose not to, is the skill.

Jury on the Greenback still out so ignore the noise and, as always in these fickle times, be careful with your trading. Pick your preferred entry/exit levels and don't be greedy or over-analyze. Patience and discipline are key too of course,as highglighted perfectly by those post-FOMC moves yesterday.

GBPUSD: 1.4120 base now broken but supported in the retreat into 1.4090 and now heading higher again but still tightly bound. EURGBP: Still underpinned but sellers poised so good two-way pips whatever your bias.GBPJPY: Groundhog day as we stay underpinned at 153.80 still but sell interest at 154.30-50 again amid the variable risk sentiment.

I remain a GBP rally seller across the pairs but still not getting over greedy with expectation on the retreats.

EURUSD: A good hold of 1.2180 this time helped by the general EUR dip demand and USD buying running out of steam.

USDJPY: Capping at 109.20 again after holding 108.80 in the retreat. EURJPY: 132.80 still a decent base but sellers at 133.30-50 still poised.USDCHF: Now inching higher again s I type and holding 0.8940 as EURUSD caps again and with SNB ever vigilant/helpful. EURCHF: Capped into 1.0980 still as USDCHF fell but some general EUR dip demand and SNB shadow keeping it underpinned.

AUDUSD: Another good hold of 0.7730 in the latest retreat from 0.7780 as we continue to range.USDCAD: Holding 1.2030 again and now 1.2060 as gains extended to 1.2140 amid the general USD demand but in retreat as I type. CADJPY impact still in play both sides of the price along with fluctuating oil price and USD sentiment ofc.Some decent optin interest in play today and should help support.

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

Interbank rates: 08.36 BST

GBPUSD 1.4117

EURUSD 1.2200

EURGBP 0.8640

GBPEUR 1.1572

GBPAUD 1.8221

GBPCAD 1.7097

GBPJPY 154.05

GBPZAR 19.3183

GBPHKD 10.9472

USDJPY 109.11

USDZAR 13.6790

EURJPY 133.11

EURCHF 1.0951

EURHKD 9.4601

AUDUSD 0.7748

USDCAD 1.2110

USDCHF 0.8976