Flows and Orders/FXWW News

Large fixing flows expected today

Most of the big banks are expecting very significant end-of-month fixing flows later today and all the reports that I’ve read so far suggest that these flows will be heavily USD negative with the GBP expected to be the main beneficiary.

Overnight price action certainly doesn’t agree with these presumptions but it’s probably wise to keep this information at the back of your mind later today.