– Volumes eased back slightly on the last trading day for Q3.
– AUD/NZD selling triggered a multi-year topping pattern and rising volume levels signal that investors are backing the down-move.
– USD/JPY posted a key bullish day on Friday with an increase in volume. Given that On Balance Volume signals that the market is short, we expect further short covering over the coming days.
– GBP volume ranked highest of the G10, with GBP selling noted in Cable and major crosses.
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Barclays Capital