AUD,NZD/EUR crosses/EUR/USD/JPY crosses

Pre-weekend positional square-up underway

Dealers say that liquidity is terrible and relatively small flows are moving the market. It seems that Asia at least has been short EUR/JPY and GBP/JPY, and we are seeing a Friday afternoon short-squeeze. There are stop-loss orders rumoured above 1.2780 in the EUR/USD but I have no confirmation today.

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