Open/Wrap

Day ahead in the FX market, Wednesday January 16th

  • JPY crosses moved lower overnight and they will be the market’s focus again:
  • No major economic data so we will rely on flows and statements for volatility and direction:
  • EUR/USD, good-sized bids reported near 1.3250:
  • USD/JPY: Japanese market is very short of Yen so we might see further short-covering in this zone:
  • CHF remains weakest of majors with bond outflows the big driver:
  • AUD/USD is quiet in tight ranges with focus firmly on other pairs.

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