J.P. Morgan Sales & Trading has shifted to a tactical long USD bias following strong US PPI and inflation data that triggered technical breaks in EUR/USD and GBP/USD.
Key Takeaways
- 1.Tactical shift to a long USD bias across G10 due to strong US data and technical breaks in major pairs.
- 2.Euro is breaking down technically, with a move toward 1.15 targeted if it closes weekly below the 200-day moving average.
- 3.UK political uncertainty regarding the Labour party leadership is weighing on GBP, with support seen at 1.3160/80.
Table of Contents
- G10 FX
- JPY
- CHF
- Aussie
- Scandinavian currency
Document Preview
Access the Full Report
Get unlimited access to institutional research reports with a 14-day free trial.
Authors
Beatriz Antunes
Securities
EURUSDGBPUSDUSDJPYUSDCHFEURHUF
Themes
US ExceptionalismMonetary Policy DivergenceUK Political Risk
Regions
North AmericaEuropeUKUnited StatesUnited KingdomJapan