Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.1310 FOR 1.1098; STOP AT 1.1401
USD/JPY: LONG AT 117.35 FOR REVISED 119.97, STOP RAISED TO 117.98
GBP/USD: LOOK TO SELL
USD/CHF: LONG AT .8755 FOR .9445; STOP AT .9168
AUD/USD: LONG AT .7773 FOR .7942, STOP AT .7723
USD/CAD: LONG AT 1.2470 FOR 1.2775 OBJECTIVE, STOP 1.2350
Crosses
EUR/JPY: LONG AT 134.30 FOR 137.31; STOP AT 133.40
EUR/GBP: SHORT AT .7500 FOR .7307; STOP AT .7520
EUR/CHF: POSSIBLY SELL SHORT TERM
EUR/CAD: POSSIBLY SELL
GBP/JPY: LONG AT 175.85 FOR 183.35, STOP AT 179.50
NZD/USD: LONG AT .7330 FOR .7495; STOP AT .7275
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GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
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