• Ranging still as jury remains out

    Some better risk sentiment in Asia and early Europe in the ever fickle world of FX but Coronavirus concerns still lurking. USD demand notable overall but sellers still poised. Lagarde, Powell and Carney all speaking today and a raft of UK data just out (better overall) adds to what hopefully will be a busy day ahead.

    GBPUSD finding some dip demand again below 1.2900 (helped by EURGBP supply) and that better data after yesterday's cap into 1.2950. EURGBP has fallen further on the general EUR supply that I've been highlighting and now posted lows of 0.8432. (GBPEUR up to1.1860). GBPJPY has steadied as that better risk sentiment returns and remains range bound atm as both core pairs tighten up too.

    I stay poised to sell GBP rallies and buy back in the dips as ever.Still ranging overall. Rinse n repeat.

    EURUSD remains undermined still and now posted fresh lows of 1.0906 amid the general EUR supply (crosses lower too as evidence) while USDJPY remains underpinned and now finding support at 109.70 but sellers still poised. EURJPY softer still on the soggy EUR but tempered by a return to some better risk.USDCHF continues to find support but tempered again by some general EURCHF supply but with the SNB still ever vigilant.

    AUDUSD has rallied back above 0.6700 helped by AUDJPY demand and large option interest today at 0.6715-20 and even larger tomorrow at 0.6700.USDCAD has failed above 1.3320 again and now posting 1.3290 amid some CADJPY demand returning but equally dip buyers poised too down here.

    Fickle Forex markets ever prevailing so be ready to jump on moves with your entry/exit levels and orders as always.

    The Shrimpers are back in action tonight and on the road again at Peterborough. We will need the positive elements of Saturday's display to be more in evidence.

    Have a good day out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank rates: 08.35 GMT

    GBPUSD 1.2900

    EURUSD 1.0906

    EURGBP 0.8455

    GBPEUR 1.1827

    GBPAUD 1.9220

    GBPCAD 1.7149

    GBPJPY 141.76

    GBPZAR 19.2112

    GBPHKD 10.0014

    USDJPY 109.89

    USDZAR 14.8594

    EURJPY 119.85

    EURCHF 1.0665

    EURHKD 8.4564

    AUDUSD 0.6713

    USDCAD 1.3294

    USDCHF 0.9777


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