Once again we're seeing oil price rises producing GBPJPY demand 1 Dec
GBPJPY now up to 143.55 again from 142.65 lows earlier when oil prices staged an early retreat.
With oil pushing back up we're seeing yen selling return on risk-positive sentiment and with GBPJPY the favoured play by hedge funds due to its extremes/volatility we're got GBPUSD rallying to 1.2573. Offers into 1.2600.
Current demand pushing EURGBP down below 0.8450 which in turn is capping EURUSD which has large 1.0600 option expiries casting a big shadow ( for those who haven't read my previous posts this morning)
USDJPY 114.27 with offers noted into 114.50 and larger from 114.80 into the reported 115.00 barrier option. Demand now around 114.00 and more into 113.80.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.