HSBC:
– EUR demand from Hedge Funds as EUR/USD fails to break 1.0800 support and squeezes back above 1.0950 after 6 straight days of decline. Corporates also buyers of Euros on the move up with counter interest coming from Real Money.
– Real money demand for AUD and CAD as both currencies fail to print new lows against the USD despite weak commodity markets: Read more of this post in the FXWW Chatroom with a free trial.