– There was an increase in activity on Tuesday, with volumes in EUR crosses topping the highest volume above their one-week average.
– Recent activity in GBP/USD has seen a reduction of volumes as investors demonstrate less interest to buy than they had previously shown to sell. Risk remains to the downside.
– Risk of further NOK weakness was highlighted by an increase in volumes with the upside range break in USD/NOK and the down-day in NOK/SEK.
– The low close on rising volume in EUR/USD keeps the focus lower.
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Barclays