USD, AUD and CAD to remain well bid amid uncertainty elsewhere

The more aggressive ECB policy and uncertainty surrounding the Scottish referendum will continue to drive investors and speculators out of the EUR and GBP. The cap on the CHF will ensure no big flights in there whilst both the JPY and the NZD are also out of favour at the moment for differing reasons.

That leaves the USD, AUD and CAD as favoured destinations for the moment at least. GBP/CAD has been a huge mover which is unsurprising given the size of long positions that were reported there.

There is a holiday in China today which may curtail activity and there is only minor data on the economic calendar.

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