info update

RBA still overall sellers of audusd, very large stops are seen above 1.0510. yesterday there were reports of japanese houses selling yen crosses across the board. offers in eurusd from ACBs related to reserve diversification were said to be lined up at 1.2975/00. Their involvement in this market has been largely seen to be USD recycling, from exports as well as  intervention mainly to protect their currency and are known to hold a sizable amounts of USD in their reserves, so to see them on the right hand side of the market confirms that they are enjoying their overwhelming size and exposure in the market at the current time and SNB offers as well above 1.30000. the russians were dip buyers yesterday with macrofunds being mainly the sellers behind the push lower