• Jury still out in these ever-fickle markets

    Some notable USD demand and also generally risk-off scenario overall as equities and oil continue their retreat amid on-going COVID-19 concerns and the US-China trade spats. Chinese markets off today and tomorrow creating tight ranges in Asian trading.

    GBPUSD traded 1.2480-1.2530 for a lot of the day but then broke lower amid that USD demand/softer risk combo and we've been down to test 1.2400 before bouncing to test 1.2450-60 this morning.EURGBP failed at 0.9070 (GBPEUR support 1.1025) but demand around 0.9030 (1.1075 sellers) now with month-end looming. GBPJPY retreated from 133.50 on the softer risk bounced on USDJPY demand up through 107.00 to now post 133.35 as I type.

    I stay poised to sell GBP rallies overall and buy back in the dips as ever but patience continues to be a virtue and entry level key as always. I still expect to see some dip demand though.

    USDJPY held 106.50 and broke up through 106.80 pivot then 107.00 to post 107.26 so far.EURJPY is also finding support/demand at 120.00-20 still but failing above 120.60 on the bounces so far. EURUSD has been in steady retreat from 1.1320 on the softer risk/firmer USD tones but finding demand into 1.1220 again. USDCHF found a base at 0.9440 again helped by the USD demand but failing into 0.9500 as EURCHF fails to rally but with the SNB ever vigilant.

    AUDUSD failed at 0.6930 and since back down on the risk-off/USD demand retreat to test 0.6850 while USDCAD has enjoyed the firmer USD/softer oil combo to post 1.3665 with talk of aluminium tariffs to be imposed by the US still casting a shadow too.

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

    Twitter: @MSPFX and @MikePatersonFX

    Interbank rates: 08.38 BST

    GBPUSD 1.2434

    EURUSD 1.1237

    EURGBP 0.9040

    GBPEUR 1.1060

    GBPAUD 1.8105

    GBPCAD 1.6964

    GBPJPY 133.07

    GBPZAR 21.6380

    GBPHKD 9.6447

    USDJPY 107.06

    USDZAR 17.4108

    EURJPY 120.30

    EURCHF 1.0652

    EURHKD 8.7204

    AUDUSD 0.6866

    USDCAD 1.3648

    USDCHF 0.9479


official partner advert

Proud supporter of


Call us today: +44 (0) 1732 700 383

Bringing You The Best Value Currency Deals

Raising the Standard in Foreign Currency Exchange & International Money Transfers

Office hours : Monday to Friday - 8am till 6pm

The MSP Update

Photo crop (passport)

Welcome to my blog

Daily market commentary from
Mike Paterson

The MSP Update is an essential tool for personal and business clients who want to be kept informed on a daily basis. If you would like to discuss your requirements then give us a call and talk to one our experienced team..

Call today +44 (0) 1732 700 383

Find out how much you could save today

Don’t let the banks or your existing foreign currency broker cash in with poor exchange rates and extortionate fees, Whether you are making a small or large, one-off or regular money transfer , MSP FX will offer the best rates for your individual foreign currency requirements and assist you in transacting at the most opportune moment possible given your timeframe. MSP Foreign Exchange Services offers complete security of funds by executing trades only through preferred FSA and HMRC regulated providers. For more information call us today and find out how MSP FX can help you.


You are viewing the text version of this site.

To view the full version please install the Adobe Flash Player and ensure your web browser has JavaScript enabled.

Need help? check the requirements page.

Get Flash Player