Forex Analysis

GBP Mid-day Analysis

Like the rest of the currency markets, the Pound is seeing some broad based technical short covering action.

The forint eases on S&P decision to leave rating intact MNB unlikely to change rates The Hungarian forint bounced back from 8-week highs on

The USD has softened against the major currencies. AUDUSD has risen slightly to 0.8895 from

Focus will be on flash estimates for PMIs. In the euro area we expect bothmanufacturing PMI and service PMI to

Bonds rallied on both sides of the Atlantic yesterday, in Europe in a bullish-flattening fashion.

The pair started at $1.2849 early today after a $1.2816 to $1.2856 range during the US session overnight.

A slightly stronger day for the AUD with the USD generally weaker across the board.

The pair closed in NY Monday at $1.6360 as rate continued to recover off Friday’s closing lows around $1.6285,

It’s been a thin market for the JPY with markets in Japan closed today for the Autumn Equinox holiday.

The Non-reportable Net Short position in the Euro has hit a new record level at 53,777 contracts and

The Swiss has managed to consolidate above last week’s spike low in the wake of renewed global

The Yen remains off balance because of fears of fresh slowing in China,