USD buyers prevailing with month and year end notable 27 March
Better risk sentiment earlier had yen pairs marching higher and sending many core pairs up with them with GBPUSD posting 1.4245, EURUSD 1.2477, AUDUSD 0.7750 and NZDUSD 0.7295. USDCAD fell to 1.2820 and USDCHF down to test 0.9430-40 support/SNB demand.
Equities have remained bid but USD demand has now taken over and that in turn has sent JPY pairs lower with year-end yen repatriation still prevailing and helping to cap USDJPY after option interest lent support below and around 105.50 earlier.
Pound weakness has been a prime mover today but GBPJPY has found support at 149.03 and EURGBP has capped at the 0.8800 sell interest I highlighted earlier and that's lending a little support to GBPUSD now around 1.4100. EURUSD has found demand below 1.2400 and AUDUSD into 0.7700. USDCAD though is still underpinned around 1.2880.
USDCHF is running into offers/res between 0.9480-00 which have helped cap recent rallies and should do again.
So a lot of USD demand maybe but it's not as straight forward as that so don't get blinkered. Month-end flows can often confuse and play out against prevailing trends. If in doubt stay out.
USDJPY underpinned but sellers poised still
