– Volumes remained at elevated levels with AUD/USD and EUR/AUD jumping from amongst the lowest weekly average volumes to the highest.
– AUD/USD broke above recent range highs and, similar to the mid-march breakout, attracted a jump in volumes. We expect further upside.
– Bullish moves for NZD against USD and EUR are also attracting increasing volumes that signal further strengthening for NZD for the time being.
– Activity over the past week in some GBP crosses such as GBP/CHF and GBP/CAD has been declining.
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Barclays