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FX traders, waiting for the next big thing
Saxo Bank Forex traders say they're waiting and watching for the next big thing to move the markets. They might not have long to wait. Tuesday will see the publication of the delayed jobs data from the States, the non-farm payrolls. Trading remains faily subdued, notably in euro dollar this Monday. Dealers aer looking at highs of 1.3711 but they believe that will be tested at some point this week.
Volatility in dollar yen is lessening. The greenback pushed higher against the yen and the euro on Monday, but gains were held in check by expectations that the Federal Reserve will hold off on plans to taper stimulus measures following the US government shutdown.
During European morning trade, the dollar gained ground against the yen, with USD:JPY rising 0.31% to 98.08.
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