We currently sit at similar levels to those of a few hours ago. Did anything happen during that time. The main mover after the UK Services PMI was the EURGBP which fell some 40 pips and has languished just below 0.86.
USDJPY has been supported by the buy orders from 93.90-94.10; Euro seems steady and Sterling has a bid tone. I feel the market has lots it’s recent negative enthusiasm for the moment and with firm equities we may yet see a further short covering move. The S & P and DJIA are mighty well bid: where will the US guys take them from here ?
