Central banks still trying to stem USD/AXY momentum
The Reserve Bank of India are in the market trying to stall the rampant move higher in USD/INR which surely must run out of steam soon? Highs above 65.00 have been reported.
Despite this, AUD/USD has bounced back from earlier lows, mostly on the back of AUD/JPY buying by Japanese retail accounts. I managed to survive the earlier push lower with my AUD/USD longs but will reduce or exit on any decent rallies back toward .9100.
Elsewhere, decent bids reported in cable near 1.5570/75 with stops below 1.5560 and decent support in the EUR/USD near 1.3280.