There’s been a slow turn in market sentiment and that’s continued with Chinese stocks opening flat after a week of holidays (though China tech is struggling).
The mood is improving and now cable (below) is up 20 pips and GBP/JPY up 40 pips.
USD/JPY has backed off the highs of the day at 145.66 and slipped back to 145.39 in a semi-abrubt move that could indicate a thumb on the scale. At the same time, we’re working through some heavy cross-currents with China returning from a week of holidays and Tokyo off for the day.
