• Friday was the busiest day of the week with overall volumes above the 90th percentile for the year.
• NZD activity was at its fourth highest of the past 12 months. NZD/USD broke below range lows near 0.8000, and EUR/NZD broke above the January peak at 1.6360. High volumes suggest that further NZD weakness is likely.
• USD/CAD posted a bullish engulfing on Friday, with an increase in volumes that signals investor appetite to sell CAD.
• AUD/JPY and NZD/JPY saw an increase in activity with the downside breaks.
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Barclays