Euro wobbles giving the pound a helping hand

29 June 2016, 10:43
Sherif Hasan
0
24

European equity rally is bringing a few euro sellers out of the woodwork 29 June

Funding currency correlation returns along with some Brexit fallout concern.

Much as I'm a natural euro buyer in the dips I've been surprised how resilient it's been since the Brexit turmoil unfolded but we're seeing a few wobbles this morning.

EURGBP breaking down to look at 0.8250 support again has lent support to GBPUSD preventing it from falling back for the moment despite good supply above 1.3400 again .

EURUSD now 1.1070 from 1.1103 with demand noted into 1.1050 still. EURJPY also falling back after the earlier risk-on rally.

Still fickle times. Ever more so since last Friday.

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