Kavya Desai
Trader1.1400 is definitely a key level. I'd be watching for a bounce there, but if we break it cleanly, then the next leg down could be significant.
Could it be some short covering on GBPUSD after the recent downtrend? The USD strength argument still holds for EUR, so maybe GBP is just reacting to its own internal dynamics and a bit of relief bounce.
I'm pretty aligned with those levels, especially 7400. That seems like a strong confluence zone with some prior support/resistance.
Totally agree, the carry trade narrative is strong. I'm wondering if the BOJ even cares until it hits 165 or 170. They seem content to let it run.
I agree, it's wild to see the BoJ's words have such little impact. Feels like they're just letting it ride for now.
Definitely felt more hawkish than expected, but they always leave themselves an out. The market seems to be pricing in a very slow tightening path regardless.