Month end USD buying ? Doesn't look like it so far
Talk of hashtag#USD buying month end but the charts tell a different story. Value dates, interim spikes, and 1600 London fix are not what they used to be. In the old days these could be fairly reliable as frameworks to executing. Not now so be aware. Please don't ask me why - I don't make the rules - the market does. 1.1480 is nice (100DMA) but 1.15 big fig the proper level for me to crack and crack it might if flows have their way. Don't read much into these levels if they break today. We are in Christmas week and like stupid shoppers in the supermarket I sometime do silly buying - then regret it later. I am not alone.