Jury still out

Thursday 3 June 2021

It's all ranging still amid steady risk sentiment for the moment. Lots of data out today but I'm not sure it's going to change the landscape much but the algos might get excited if wide of the mark.

Jury on the Greenback still out so ignore the noise and, as always in these fickle times, be careful with your trading. Pick your preferred entry/exit levels and don't be greedy or over-analyze. Patience and discipline are key too of course.

I'm off to Lords again today to watch England v New Zealand so don't expect much by way of FX tweets but back at my desk tomorrow to cover the morning session and NFPs.

GBPUSD: A good hold of 1.4100-10 yesterday ahead of some option interest today I warned about and some pips banked but capping at 1.4180 and re-sells duly placed. EURGBP: 0.8600 still a decent base but sellers still poised now at 0.8630 after duly capping into 0.8650.GBPJPY: Now failing around 155.50 with core pairs both capping and GBP under a little pressure still but dip demand at 155.00 while risk sentiment remains ok.

I remain a GBP rally seller across the pairs but still not getting over greedy with expectation on the retreats.

EURUSD: A good hold at 1.2160 but rallies capped at 1.2220 while we continue to range. USDJPY: Holding 109.50 in the latest retreat after re-sells into the fade of 109.80-00. EURJPY: 133.65-75 forming a decent base still amid the core pair dip demand and general JPY supply but sellers lurking around 134.00 still.USDCHF: Holding 0.8980 in its latest retreat as EURUSD caps again but rallies still tempered by EURCHF capping but with the SNB ever vigilant/helpful.Sellers now poised at 0.9010-20. EURCHF: Capped into 1.0980 again but some general EUR dip demand and SNB shadow keeping it underpinned at 1.0950 for the moment

AUDUSD: Yesterday's options interest between 0.7740-50 duly proved magnetic. More on the board today should help contain any further retreat.USDCAD: Now holding 1.2030 again after failing at 1.2100 amid some firmer oil tones and CADHPY demand.

Let's continue to be careful out there in all things. Staying safe must be our main priority still. Have a good week everyone.

Interbank rates: 07.58 BST

GBPUSD 1.4151

EURUSD 1.2183

EURGBP 0.8610

GBPEUR 1.1613

GBPAUD 1.8324

GBPCAD 1.7062

GBPJPY 155.36

GBPZAR 19.1777

GBPHKD 10.9705

USDJPY 109.79

USDZAR 13.5576

EURJPY 133.80

EURCHF 1.0966

EURHKD 9.4492

AUDUSD 0.7723

USDCAD 1.2056

USDCHF 0.8998