- USD/JPY is trading at 5-year highs and the market is all bulled-up for more gains. I’m not joining in as I missed this boat already;
- USD/CAD is worth watching closely as it seems to have plenty of scope for a big catch-up on the top-side;
- The GBP has out-performed all currencies overnight after more strong economic data. More gains are expected on the crosses but the cable is likely to range trade above 1.6200 now imho;
- The AUD/USD has been hit by more heavy stop-loss selling but is starting to look oversold on short-term timeframes;
- EUR/USD has finally broken below it’s recent consolidation range but is likely to find another one on a lower plane.