A strong shift in sentiment against the Euro was the theme of yesterdays action, this has resulted in a big shift in retail positioning in the EURGBP today which went from over 60% of retail traders being short (and correct) to now over 60% being long (and wrong as they are most of the time). In keeping with our contrarian view we maintain a short bias on EURGBP.
USDJPY despite intervention seems to be pulling back from the highs, Japan has promised sustained intervention to curb the squeeze felt by Japanese exporters.
Today’s Data & journal links
Data sheets describing major market metrics, news and a journal area for trading records in the centre of the pdf.