Syd 07:41 GMT October 2, 2009
EUR/JPY is in the spotlight as the ECB worries about EUR strength but Japan's Finance Minister Fujii says he won't bring up JPY strength at the G7 meeting. "We expect EUR/JPY to come under further pressure," says RBC. The bank reckons that a break of 129.60 will open the pair up to a fall to 127/128.
Syd 07:38 GMT October 2, 2009
UBS has gone short of GBP/USD at 1.59 with a stop at 1.6130 and a target of 1.52. The bank says it's a short-term trade on the view that weakness in global equities will prompt risk-averse investors to buy into the safe haven of US Treasurys. The bank adds sterling itself may weaken into next week's BOE meeting while the USD may benefit from G7 comments. GBP/USD is currently at the day's low of 1.5870, that despite a buoyant Nationwide house price survey that had prices up 0.9% on the month and flat on the year.
Syd 07:22 GMT October 2, 2009
A combination of political and macroeconomic uncertainties should put commodity currencies again the backfoot, says UniCredit. The bank is looking for the AUD, NZD and CAD to defend $0.8640, $0.7080 and CAD1.0870 against the USD.
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