Forex Analysis

GBP/USD Analysis

The pair closed in NY Monday at $1.6869 after rate had seen recovery highs of $1.6903 earlier in the session, off Friday lows of $1.6832 (Monday low $1.6840),

The pair started in Asia at $1.3757, not far from its overnight low of $1.3753 seen during the US hours. It saw a mild uptick through $1.3760 and got up to $1.3767, driven by early demand spotted from around $1.3750.

USD/JPY Analysis

The pair started Tuesday’s session at Y102.12 after it had traded a Y101.90 to Y102.19 range in the US last night. Early demand from Japanese names kept the pair inching higher,

FX Flows From Hedge Funds

Net euro selling over UBS’ books hit a 5-week high last week as ECB President Draghi indicated the strong euro’s disinflationary impact “will have to be addressed”.

EUR Mid-day Analysis

The Euro has respected last week’s spike down lows and is showing some consolidation capacity to startthe action today.

CHF Mid-day Analysis

While the Swiss seems to have found some support on the charts, the currency did forge a quasidownsidebreakout and that could hint at more downside action in the days ahead.

JPY Mid-day Analysis

While a rise in bank lending activity facilitated some selling in the Yen this morning, the market looks tohave fairly solid support just under the market at 98.00.

USD Mid-day Analysis

A slight retrenchment in the Dollar is being seen to start as the Dollar was probably a bit overdone intothe overnight highs. One might have expected

CAD Mid-day Analysis

Obviously the Canadian was injured by its April jobs results. With the disappointing jobsresult, one has to doubt the validity of the recent rally in the Canadian.

GBP Mid-day Analysis

The Pound has managed to respect its up-trend channel support line and recover overnight. With aslight corrective setback at the end of last week that should balance the

Central European Daily

The Czech inflation slips to 0.1% year-on year in April The ECB boosts demand for regional bonds Although Central European currencies barely moved on Friday it finished the week stronger.

Supports for patient JPY-bears

Japanese institutional investors were net buyers of foreign securities by¥211.1bn in April, the highest level since August 2010. Broken down byinvestor type,