The USD and JPY cylinders are burning thru the markets again, with USD holding an edge of JPY due to the tensions between the 2 Koreas. But this may be a shortlived calm before the next JPY storm, paving way for 108 in EURJPY, 127.80 in GBPJPY and 83.60 in CADJPY. USDJPY still trades w/in the 90.50-89.80 range w/ risks for 89.10, while EURUSD counts the days before breaching below 1.2130s after the prominent failure to regain 1.2630. USDCAD's break of 1.0660s eyes 1.0730-50. And as we reiterated on CNBC an hour ago, AUDUSD sub 0.80 is quasi inevitable before 0.78 ultimate target emerges.
Comments