EUR Contines To Trade In Tight Range Amidst Thin Holiday Trading

The single currency continued to trade in tight range in part due to thin holiday trading, mixture of bids and stops remains at 1.3135-45 and more buying interests from sovereign names are reported at 1.3115-25 and also at 1.3090-00, fresh demand should emerge further out at 1.3070 as well as 1.3050 with stops building up below 1.3040. On the upside, some offers are reported at 1.3185-95 and mixture of offers and stops is located at 1.3200-05, more selling interests are expected further out at 1.3230-40 and further out at 1.3280-85.

GBP: The cable rose marginally above yesterday's high of 1.6217 to 1.6218 but selling interests from UK clearer are still noted from 1.6220 up to 1.6250 (where another option barrier is located), more selling interests are expected further out at 1.6275-80 as well as 1.6300-10 (large). On the downside, bids are raised to 1.6190-00 and also at 1.6160-70, demand from Middle East, sovereign names and real money accounts are tipped further out at 1.6100-10, followed by mixture of bids and stops at 1.6080-85 but bigger stops only emerging below 1.6050-60.

CHF: The greenback remained confined within very narrow range since yesterday, mixture of bids and stops remains at 0.9150, however, fresh demand should emerge further out at 0.9120 as well as 0.9100 with more stops placed below latter level. On the upside, light offers are located at 0.9195-00 and indicated offers remain at 0.9245-50 and also at 0.9275-80, more sell orders are tipped at 0.9300 as well as 0.9320-30, indicated decent offers are still noted further out at 0.9370.

JPY: The dollar recovered after retreating from 84.55 to 83.62 yesterday (some only recorded 84.48), however, offers remain at 84.20, mixture of offers and stops is tipped at 84.50-55 but sizeable sell orders are tipped further out from 84.70 up to 84.90, more sizeable stops are placed above 85.00 barrier. On the downside, buy orders are still note from 83.70 down to 83.50, good size buying interests should emerge around 83.25-35 with stops building up below 83.20 but fresh demand from various parties should emerge around 83.00.