• Risk sentiment wobbly again

    Softer risk sentiment prevailing again in the ever-fickle world of Forex with Coronavirus concerns increasing further as I warned yesterday.

    GBPUSD has found some dip demand below 1.2950 but equally can't hold above 1.2980 so far in this session's rally with GBPJPY and GBPCHF supply returning. EURGBP has fallen again on the general EUR supply helping to underpin GBPUSD and now posted further recent lows of 0.8378 (GBPEUR up to 1.1936). GBPJPY remains range bound amid the variable risk sentiment with core pairs both enjoying 2-way business.

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

    EURUSD remains undermined still on the funding currency selling and soggy data to now post 1.0865 while USDJPY remains range bound, finding support at 109.70 but sellers still poised above 110.00. EURJPY softer again amid the soggy risk/EUR double whammy and falling to 119.34.USDCHF continues to find support but tempered yet again by the general EURCHF supply with the SNB seemingly not doing much to stop the decline for the moment but don't rule them out.

    AUDUSD duly failed at 0.6750 helped by AUDJPY supply and those option expiries yesterday and there's further interest at 0.6745-50 today and larger at 0.6710 which will help contain again.USDCAD held 1.3230 on its further retreat with demand helped by some CADJPY selling and softer oil prices but equally sellers poised since into 1.3270.

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

    Have a good day out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank rates: 08.35 GMT

    GBPUSD 1.2969

    EURUSD 1.0887

    EURGBP 0.8392

    GBPEUR 1.1914

    GBPAUD 1.9257

    GBPCAD 1.7181

    GBPJPY 142.35

    GBPZAR 19.2812

    GBPHKD 10.0548

    USDJPY 109.77

    USDZAR 14.8723

    EURJPY 119.50

    EURCHF 1.0631

    EURHKD 8.4395

    AUDUSD 0.6734

    USDCAD 1.3248

    USDCHF 0.9765

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