• US Dollar gains notable as the shake-down continues.

    The very worrying times for all of us continue and sadly the traditonal St Patrick's Day celebrations will be extremely muted. The UK is now starting to play catch up. The Pound has had a further shakedown on the new/overdue measures and I hope my steer has helped along with all my comments/advice in recent weeks/months regarding the fragile times in which we live even before COVID-19. JPY continues to be a safe-haven and limiting USDJPY gains.

    I will repeat my words from yesterday anmd subsequently tweeted. "There is no crystal ball anywhere that can tell us what will unfold. My 40 years in FX gives me some insight into how these volatile markets might behave moving forward, and I will certainly help where I can to guide you, but I will state quite clearly that as far as the global picture and where Coronavirus takes us is concerned we live in unprecdented times and I am second-guessing as much as the next person. One thing I can state quite clearly is that a cool head is needed along with increased discipline and caution. If you have specific questions thewn do let me have them."

    Please feel free to contact me in these very difficult times.

    GBPUSD has been down to test 1.2200 with GBPJPY and GBPCHF supply helping to push it down along with another surge higher in EURGBP and now posting 1.2165 as I type. EURGBP has rallied to test 0.9150 (GBPEUR down to 1.0930).GBPJPY has fallen further to test 129.50 and rally-sellers poised as ever including me still.

    I stay poised to sell GBP rallies as ever and I hope my counsel is helping.

    USDJPY remains torn between USD and JPY demand and traded 105.75-107.20 with good interest both sides. My preference to sell rallies/buy JPY continues.EURJPY has been down to 118.13 as risk sentiment fades.EURUSD has been capped into 1.1200 by the general USD demand but still finding the journey lower limited as the Euro finds itself in a funding currency roll again and with the ECB having limited room to move.USDCHF has posted highs of 0.9532 as EURUSD falls and EURCHF continues to hold that evident SNB line in the sand at 1.0540 that I've been highlighting.

    AUDUSD has tumbled further to post 0.6043 as I type amid the general carnage and I hope my short-side preference helped steer you again. USDCAD has been up to test 1.4080 on its own particular mission amid the variable risk/oil price and USD triple whammy with 1.3960 nw seemingly the lower line in the sand.

    Fickle Forex markets ever prevailing so be ready to jump on moves with your entry/exit levels and orders as always. Caution advised as ever if you're not sure.

    Lots going on right now, and the foreseeable future, so don't forget that I offer 1-2-1 mentoring if there's areas of trading these volatile markets or how to make best use of the order boards and expiries, that you might need some further help with.

    Let's be careful out there as ever. Staying safe must be our main priority.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank rates: 08.45 GMT

    GBPUSD 1.2225

    EURUSD 1.1111

    EURGBP 0.9098

    GBPEUR 1.0985

    GBPAUD 2.0123

    GBPCAD 1.7154

    GBPJPY 130.35

    GBPZAR 20.2057

    GBPHKD 9.4780

    USDJPY 106.82

    USDZAR 16.5815

    EURJPY 118.64

    EURCHF 1.0583

    EURHKD 8.6282

    AUDUSD 0.6060

    USDCAD 1.4052

    USDCHF 0.9527

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