Confusion remains
Daily insights on Forex and other financial markets - prices, pairs, flows, strategies and much much more
Tuesday 31 March
Reports of Trump supposedly being willing to end the Middle East war without re-opening the Strait of Hormuz has thrown a fresh cat among the pigeons with ongoing attacks continuing from both sides.
We've seen more USD demand overall helped by month/quarter-end flows still, as I've been warning for a while, with JPY cross flows also still impacting other core pairs with USDJPY capping at 160.00 amid fresh verbal intervention by MOF and BOJ. Last day of the month brings some obligatory final fix flows so keep an eye on the lead-in to the 4pm London fix.
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