JPY and CHF still providing the most volatility
The GBP did come under some selling pressure in early Europe, mainly on the back of GBP/CHF selling by a big Swiss bank, but the market has since settled down into a nice quiet consolidation phase. The Yen gave back some of the gains it made during Asian trade yesterday and both the EUR and the AUD have traded in fairly tight ranges against the greenback over the last few sessions.
I’m staying in range trading mode this session, still with a buy-EUR bias. AUD/USD looks like it wants to test 1.0600 again and EUR/JPY should stay comfortably inside a 116.50/118.50 range. I’d suggest staying with the buy-JPY bias during the Asian session, just like we’ve had for the last few.