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*Good morning/afternoon everyone!*
All of the major currencies are trading lower this morning including USD/JPY which makes risk aversion the main driver of currency flows. With U.S., German and U.KL yields pointing lower, we could see continued weakness in the North American session. 10 year Treasury yields continue to reject 2.4% despite the increased confidence that Congress will agree on a tax plan. Instead USD/JPY is taking its cue from U.S. rates and Japanese stocks which fell for the 4th straight trading session. The biggest loser is GBP which has fallen sharply on Brexit concerns. This is a big week for GBP with UK CPI, retail sales and labor data scheduled for release. EUR on the other hand is quiet while the comm dollars remain under pressure.
*The MAIN THEMES I see today are*
-USD, -GBP, -NZD
neutral CAD, EUR
1. Sell USDJPY at market now 113.34, Stop at 113.62, Target 113.06
2. Buy EURGBP at .8899, Stop .8871, Target .8927
2. Sell EURJPY at 132.05, Stop at 132.33, Target 131.77
4. Sell NZDCHF at .6871, Stop at .6899, Target .6842
Close ALL open day trades by 10:20AM NY / 15:20 GMT