• Jury still out as another week closes

    Lots of huff and puff on a variety of levels/concerns/ongoing matters still but we're no closer to knowing any more than we did to start the week and FX prices are duly reflecting that by continuing in tight ranges. Plenty of CB people up to the mic today inc ECB's Draghi and a host of US Fed members and we'll stay poised for any news-bombs although I think that's more hope than expectation.

    GBPUSD had a couple of tests of 1.3100 again but has since retreated to test 1.3020-25 support again too with rally-sellers, including me, ever poised but buyers equally having a decent say for the moment as the jury remains out. EURGBP has traded tightly again as the Pound continues on its rinse and repeat round-trip.

    I remain GBP bearish overall and continue to rally-sell. Still no change as far as I'm concerned right now.The latest Brexit sentiment changes only highlighting how fragile/fickle the issue remains while the political mess unfolding can not be deemed positive. Equally there are plenty in favour of buying dips at the moment too so I continue to see good two-way business.

    EURUSD is also still making its mind up but remains a little soggy with softer EU data playing its part too while USDJPY has found support again above 110.50 again after failing into 111.00 once more and also continues to trade tightly.

    USDCHF also continues in a 0.9980-1.0020 range with EURCHF still tightly bound and AUDUSD has understandably settled down again after its up to 0.7205 down to 0.7080 round trip. USDCAD continues to trade tightly but underpinned again amid the current USD/oil price uncertainty with BOC's Poloz also throwing some fuel on the embers yesterday. Should see some good two-way trading still.

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

    Tomorrow the inconsistent Shrimpers travel north to Accrington and I'll be there too on a 10-ish hour round trip to see if they can continue to show their more consistent away form. Bring it on!

    Have a good day and week-end one and all where ever yours takes you.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.40 GMT

    GBPUSD 1.3028

    EURUSD 1.1346

    EURGBP 0.8709

    GBPEUR 1.1482

    GBPAUD 1.8315

    GBPCAD 1.7231

    GBPZAR 18.2669

    GBPNZD 1.9170

    GBPHKD 10.1022

    USDJPY 110.78

    EURJPY 125.71

    GBPJPY 144.39

    AUDUSD 0.7115

    EURCHF 1.1344

    USDCAD 1.3221

    USDCHF 0.9997

    EURHKD 8.7983


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