– Volumes picked up on Monday as the deal reached at the weekend for Cyprus deal investor focus swing to the EUR.
– As has been the trend of late, EUR/USD volumes increased as sellers dominated activity. Further downside is expected over the coming days.
– GBP/CAD volumes doubled on the day, with a key bearish reversal signalling investor appetite to sell the highs.
– USD/JPY volumes have been declining with the move lower of the past few day’s. Investor interest to buy JPY is waning.
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Barclays