The EUR has made some very solid gains over the last 24 hours, driven by reports that the Greek debt restructure has had a 95% participation rate. EUR/JPY was the main driver but there have been gains across the board (with the obvious exception of the already chronically long EUR/CHF market).
The AUD/USD has also made some decent gains, which is unsurprising given the strong demand-on-dips shown after the poor jobs data yesterday. USD/JPY has stalled near those sell orders I mentioned yesterday and risk-reward traders will be looking to sell with a tight stops above recent 81.90 highs.
The Chinese CPI will be the main event risk this session, with polls earlier this week forecasting a sharp drop to 3.4%.
Good luck today and TGIF
