• US Dollar sellers notable again as a new week begins

    Still a lot of noise going on re Brexit, US/China trade, et al and as another week begins in these ever fickle FX markets we're seeing a bit of softer USD sentiment as the jury remains out still. I'll say again we are in fragile times and the markets will respond accordingly. US holiday today should see ranges further contained.

    GBPUSD has found some general demand in the latest dip helped by the weaker USD and some GBPJPY demand and has been back up to 1.2931. Decent size option expiries between 1.2895-1.2915 should help keep range contained barring any major news bombs.EURGBP has fallen back once again on the general GBP demand and has been down to test 0.8730 support(GBPEUR up to 1.1445).

    I remain GBP bearish overall and continue to rally-sell.No change as far as I'm concerned right now.The latest Brexit concerns only adding to a growing realization that the UK is under the cosh in the short term whatever the final outcome.

    EURUSD has been up to 1.1325 helped by some EURJPY supply but tempered by EURCHF and that EURGBP supply while

    USDJPY found a base around 110.25-30 on Friday with support there as I highlighted but continues to find rally sellers, including me, on the general USD supply and year-end Yen repatriation need.

    USDCHF remains underpinned but seeing sell interest at 110.60 amid some EURCHF supply again.AUDUSD has broken up through those range sellers at 0.7130 and been on to post 0.7160 amid the USD supply and AUDJPY demand. USDCAD has dropped back to post lows of 1.3225. Some demand still down there then decent support at 1.3200,

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

    Housekeeping point: I'm heading out shortly to a funeral and will be away from my desk most of the day. Your understanding is appreciated.Thank-you.

    On Saturday the totally inconsistent Shrimpers of Southend showed all their latest traits, and strengths, to come back from 0-3 down against high-flying Portsmouth to steal a 3-3 draw. Certainly never boring at the hallowed Hall!

    Have a good day/week one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 07.42 GMT

    GBPUSD 1.2912

    EURUSD 1.1307

    EURGBP 0.8760

    GBPEUR 1.1410

    GBPAUD 1.8050

    GBPCAD 1.7075

    GBPHKD 10.0107

    GBPZAR 18.1709

    USDZAR 14.0941

    USDJPY 110.54

    EURJPY 125.00

    GBPJPY 142.67

    AUDUSD 0.7150

    EURCHF 1.1351

    USDCAD 1.3232

    USDCHF 1.0037

    EURHKD 8.7713


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