AUD,NZD/EUR crosses/FXWW News/GBP crosses/JPY crosses

Out with the old, in with the new

The FX market has stayed quiet and overall turnover is very low. The last day of 2013 is unlikely to be a busy one.

  • Cable is trading steadily above 1.65 and this is one trend which is unlikely to let up any-time soon as the GBP still has plenty of ground to make up on the crosses.
  • USD/JPY has moved higher in illiquid markets but I think we are starting to get into over-bought territory. Timing is everything in the FX market and I’m waiting for a selling opportunity sometime in the next 2 weeks, possibly even close to 110?
  • The AUD is starting to look cheap against the EUR and the NZD in my opinion but I’d prefer to stay in dip-buying mode rather than getting bulled-up at this time of year.
  • As for the EUR? I’m bearish for the first quarter and prefer to play this view through the crosses, EUR/GBP in particular.

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