Category in Flows and Orders

USD/JPY: Hedge funds main driver behind recent rally

It’s getting increasingly hard for professional traders to generate any returns in these markets and it’s no surprise to see hedge funds clambering once more onto their favoured USD/JPY long trade in the hope of a developing trend. The clever ones bought in around 101.00 when the stops were being triggered and the Japanese semi-official

Pfizer cancellation of AstraZenica takeover could be bearish for cable

It’s always difficult to know how much (if anything) was pre-bought ahead of such M&A deals. What we can say is that the cancellation of the deal will blunt bullish GBP sentiment to some degree and with the market already long, there could be some downside risks. Market chatter suggests sell orders starting above 1.6880