The winner of all for 10 Aug has to be JPY. Repeated threats of intervention by SNB is driving safe haven flows to JPY. Impressive gains made for those shorting USD/JPY during the day. Now as I write this USD/JPY is heading up with some force. But I think this is short lived given the poor sentiment in market.
Gold advance seems unabated. And already surpassed 1800 level as I watched TV news of even retail investors claiming to want to buy gold to preserve asset value. In fact, it appears gold is a better safe haven asset than any other currencies. And it wouldn't be subject to intervention, so its continual path upwards offers a lot more potential. I believe 2000 would soon be reached.
NZD/USD: support 0.81; resistance 0.84 for next day. My prediction.
USD/SGD: am looking to sell at 1.225 tomorrow.
EUR/USD: Support established at 1.44 past few days. More downside to come for this pair on upcoming Italy's austerity package approval. Remember the greece drama in Jun? I'm afraid it'll be a deju vu.
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