Good to watch for more downside risks – some may say “capitulation” of AUD/JPY, NZD/JPY, including EUR/JPY, USD/JPY long positions by Japanese margin traders / Mrs Watanabe ahead of FSA margin trading rule change from August (Search FSA). Recap from BBG: “The government will cap debt used to boost trading bets, or leverage, at 50 [...]

The  British Pound has been showing signs of revival lately. Depending on where one is to look, they appear quite impressive. Against the US Dollar, the GBP has been in a steady uptrend, gaining close to 1500 pips since mid May. It just broke above the important resistance at 1.5525 and currently is at levels not seen since February. [...]

It seems that the Forex market is reaching new levels of trading. Figures released today indicate that an average daily turnover volume in April exceeded the $4 trillion mark. London, the main center of foreign exchange, accounted for a third of all trading, saw a 15% half-year increase in average daily turnover to $1.75 trillion in April [...]