EUR: The single currency has continued to trade with a firm undertone in part due to persistent buying by Middle East names and bids from them are still noted at 1.3240-50 with some stops placed below 1.3230 but more buying interest should emerge around 1.3190-00 with more stops seen below 1.3160, 1.3100-10 and 1.3080. On the upside, mixture of offers and stops remains at 1.3100-10 and more option related offers are tipped from 1.3330 up to 1.3350 (related to 1.3350 barrier) with bigger sell orders expected at 1.3390-00.
GBP: Although the British pound rose to an intra-day high of 1.5929, cable ran into heavy offers from Middle East names (profit-taking) there and has retreated, mixture of offers and stops is located at 1.5935-40 with more selling interests from same parties tipped further out at 1.5990-00. On the downside, some bids from Asian names are reported at 1.5850-60 with stops building up below 1.5835-40 and more buying interest is reported at 1.5800, followed by bigger stops placed below 1.5780 (sizeable bids above this level).
CHF: The greenback has remained under pressure after yesterday's selloff, however, mixture of bids and stops is still noted at 0.9100-05 but more buying interests (some are cross-related) from French and Swiss names are expected to emerge further out at 0.9080 and also 0.9050-60. On the upside, offers are still noted at 0.9140-50 and also at 0.9190-00 with stops building up above 0.9230, followed by combination of offers and stops (both in good size) at 0.9260-70.
JPY: Despite rising to 77.19 today, dollar ran into indicated offers from exporters (for protection of stops above 77.20) and has retreated in European session, however, bids from Asian and semi-official names are still noted from 76.70 down to 76.50 with stops building up below 76.45-50 but more buying interest is expected to emerge at 76.10-20 with sizeable stops remain below 76.00 option barrier. On the upside, mixture of offers and stops is still noted at 77.10-20 with more selling interest from exporters still seen at 77.50-60 and 77.80.
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