Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SELL AT 1.0939 FOR 1.0613 INITIAL OBJECTIVE, STOP 1.1040
USD/JPY: BUY AT 119.71 FOR 121.41 INITIAL OBJECTIVE, STOP 119.08
GBP/USD: BUY AT 1.4785 FOR 1.5203; STOP AT 1.4685
USD/CHF: BUY AT .9708 FOR .9984 INITIAL OBJECTIVE, STOP .9625
AUD/USD: BUY AT .7710 FOR .7914; STOP AT .7640
USD/CAD: LONG AT 1.2640 FOR 1.2900 OBJ, STOP 1.2505
Crosses
EUR/JPY: SHORT AT 129.90 FOR 126.57; STOP AT 130.85
EUR/GBP: SELL AT .7275 FOR .7015; STOP AT .7330
EUR/CHF: POSS SELL
EUR/CAD: POSSIBLY BUY
GBP/JPY: POSSIBLY SELL
NZD/USD: BUY AT .7515 FOR REVISED .7712 OBJECTIVE; STOP AT .7445
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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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