Risk trades looking bit sick as Europe gets underway
No major story to report out of Asia with the usual case of positional adjustment ahead of the weekend. The market has been buying the Yen crosses for most of the week so its no surprise to see some profit taking setting in. NZD/JPY and AUD/JPY were the main movers and the focus will now turn to the European currencies.
I’m still running a small EUR/JPY short but will cover on dips onto 102 handle and hope for rallies to re-sell on. I’m also short AUD but I’m in for the long haul there.