- USD/JPY bids starting at 77.20
- BOJ have been consistently buying relatively small amounts of USD/JPY on the drift lower (billions rather than hundreds of billions)
- Overall intervention amounts by SNB is remarkable small in recent times suggesting that short-covering as well as intervention is still a real factor in EUR/CHF and USD/CHF
- EUR/USD: No sign of big asset managers to flee the EUR en-masse and until they do, the speculators will struggle to drive it lower. Bids now reported 1.3580.
I’m afraid that will have to do me for today, what with a 24-hour travel ahead of me for tomorrow. Thanks to all who came along tonight and apologies to the Asian session regulars for the poor coverage today. See you Monday when we’ll get back to normal hopefully. Joe will be along in a few hours.
