US$ softer as the week draws to a close
Further to my post-BOE update yesterday we've seen the Pound generally make further gains on August rate-hike expectations and some US$ supply returning to close the week.
GBPUSD has now risen to test 1.3300 after yesterday's rally failed into 1.3260.Immediate support/buying now between 1.3250-60 then 1.3220 and 1.3200. Sellers around 1.3300 still then 1.3320 and 1.3350-60. Caution advised here at the moment on the BOE/softer USD double-whammy but rally sellers should still prevail on the Pound overall with Brexit and UK government turmoil never far from the headlines.
EURGBP is ranging still and currently finding sellers around 0.8780 again. Buyers poised at 0.8750 and larger between 0.8720-30 that held again yesterday and helping to limit GBPUSD gains. More sellers around 0.8800 and 0.8830.
EURUSD has been up to 1.1674 after being contained yesterday by large option contract interest that I mentioned. Buyers around 1.1600 then 1.1560 and 1.1530. Sellers 1.1700 1.1730 and 1.1750.
USDJPY has fallen yet again to test 109.80 support are on the general US$ selling. Buyers still lurking down there and 109.50 again Sellers around 110.50 then 110-80-00. USDCHF returns to test support around 0.9880 after failing to break 1.0000 with EURCHF steady and EURUSD rallying
The Aussie, NZ and Canadian $ have all found a few buyers again but gains limited. AUDUSD now has buyers at 0.7380 and 0.7350.Sellers around 0.7430 and 0.7450. USDCAD buyers still around 1.3280 then 1.3250. Sellers around 1.3330 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 continues on Sunday. Bring it on!
Have a great week-end out there one and all.
Interbank Rate 08.45 BST GBPUSD 1.3288 EURUSD 1.1653 EURGBP 0.8767 GBPEUR 1.1404 USDJPY 110.15 USDCAD 1.3295 USDCHF 0.9897 GBPAUD 1.7930 GBPCAD 1.7666 GBPCHF 1.3149 GBPZAR 18.0174 GBPHKD 10.3022 EURHKD 9.0338