GBP Trading Outlook
ORDERS & FLOWS: There was very heavy turnover yesterday in the AUD/USD with hedge funds selling billions and central banks taking much of this off their hands. The speculators have the upper-hand in the short-term but the central banks might be giving us the more medium-term direction.
ORDERS & FLOWS: Sovereign names including some big central banks were noted buyers of AUD/USD yesterday when it broke below .9500. Real money names were also noted buyers but this buying was offset by the AUD selling against the EUR.
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