JPY crosses

JPY crosses: Algos probing for stops in thin twilight trade

The short-term liquidity market, with banks scaling back their risk taking, is increasingly being populated by algo traders who provide liquidity but also try and jam the market when they sense a weak side. I used to try and do the same thing myself as an interbank dealer so I best not complain about the activity 🙂

This morning’s target of choice is the Yen crosses with NZD/JPY and GBP/JPY getting early mentions. No major developments, just the usual market activity.

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