• Risk sentiment improves but still fragile

    Better risk sentiment prevailing still as Coronavirus concerns take a back seat again but the problems aren't going away any time soon. USD demand still notable overall amid the risk-on plays but sellers still poised. Fed's Powell testifies again at 15.00 GMT.

    GBPUSD has found some dip demand again helped by yesterday's better data, EURGBP supply/GBPJPY demand and broke up through those decent offers at 1.2950 to post 1.2975 highs. Still underpinned as I type as USDJPY jumps above 110.00 with GBPJPY rallying to post 142.85.

    EURGBP has fallen further on the general EUR supply/GBP demand and now posted further recent lows of 0.8413 (GBPEUR up to 1.1887).

    GBPJPY has rallied to 142.85 on the better risk sentiment with both core pairs on a march higher.

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

    EURUSD remains undermined still and dipped below 1.0900 only to run into dip buyers again with option expiry demand between 00-10 but sellers still poised too. USDJPY remains underpinned and still finding support at 109.70 to post 110.13 highs now amid the better risk sentiment but sellers still poised. EURJPY firmer too but lagging still due to the soggy EUR.USDCHF continues to find support but tempered again by some general EURCHF supply. Remember the 1.0630-60 area was a decent line in support created by the SNB back in March 2017 so once again we wait to see if they want to protect it again as we saw recently on spikes back to look at 1.0725-50. Lower starting point now though.

    AUDUSD has rallied to look at 0.6750 helped by AUDJPY demand and those large option expiries yesterday at 0.6715-20 and even larger today at 0.6700 but also some interest 0.6750 which may help contain.RBNZ left rates on hold and turned hawkish which did give AUDUSD a small lift but AUDNZD still significantly lower as NZDUSD rallies to 0.6480.USDCAD has held 1.3260 but equally failed at 1.3300 amid some CADJPY demand returning but equally dip buyers poised too.

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

    Less said the better about last night's 4-0 defeat for Southend at Peterborough. Lambs to the slaughter.

    Have a good day out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank rates: 08.40 GMT

    GBPUSD 1.2968

    EURUSD 1.0920

    EURGBP 0.8421

    GBPEUR 1.1871

    GBPAUD 1.9224

    GBPCAD 1.7200

    GBPJPY 142.76

    GBPZAR 19.1653

    GBPHKD 10.0517

    USDJPY 110.12

    USDZAR 14.7790

    EURJPY 120.25

    EURCHF 1.0656

    EURHKD 8.4675

    AUDUSD 0.6745

    USDCAD 1.3265

    USDCHF 0.9758


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