What do the BIG trade intraday

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rumor 45 cons. conf.

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lows: Japanese demand for usdyen emerging in the 88.30/40 area.. offshore macro quiet in this move lower... important tech levels of 88.01 is recent low, and below that 87.10 years low

Overall overnight we were net sellers of USD for our franchise. Net buyers of AUD, EUR/USD and GBP/USD and sellers of USDJPY.

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urusd.... trades very bid this mng..weakside certainly uptop.. a break of 1.5050/65 would be a clean path towards 1.52... no one expects it to break this week with the thanksgiving holiday around the corner ...wouldnt at all surprised to see a 1.51 print this week....1.4950 should be daily support

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ussia - Basket opens around 35.23 1/2 24 and moves up briefly above 35.30 in comments from cbanker Ulyukayev suggesting that the CBR will increase ccy intervention to limit volatility. This seems quite contradictory to what the head of the cbank has said in recent times regarding a more suitable free float for the RUB. Ulyukayev also commented that rates need to go a lot lower now, which we agree with. There seems to be a battle going on the cbank, over which way to go on ccy policy. We are likely to continue to see contradictory statements from the CBR going forward.

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seen a couple of waves of usdjpy selling (corps/macro) running into ususal japanese names buying Mizuho SMBC etc

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SDJPY triggered the barrier of 87.50, 87.00 is expected large one as well.
I am still bearish USDJPY but once closed my position and expecting a rally up to 88.00 again (from my trader)

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SNB has been seen intervening in the FX markets buying usdchf between 0.9965 and 1.0020. In the very short term the SNB interventions could prove to be more efficient this time around as stops are cleared in usdchf and eurchf and the market will be less liquid due to Thanksgiving. I am also expecting more rhetoric surrounding the fear of a disorderly dollar decline.

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Morning... after usdjpy hit the low at 86.29 (once touch), local japanese banks were the maing buyer, but Igot paid as well
prop bought 50 mio at 86.45, other prop bought 25 mio each of usdjpy and eurjpy, and option desk bought total of 100mio usdjpy

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EUR - desk here still core long EUR$ however we do feel that with the action in $CHF this trade may have to wear some pain. Again the thinking is in thin market you have to look at your risk return. Sure it could be a cracker but obviously on flip side could be expensive! Bottom line the trend for a lower Greenback is still in place. From here former resistance at 1.5020 now marks first minor support and we have some decent re-buying interest into 1.4960/80. On top 1.5150 obviously key and then behind this 1.5170/80 marks break out momentum stops with us here.

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move in GBPUSD related to flow that seems to have gone through the market in EURGBP away from us. 1.6500 remains the big level on the downside as we had a re-test of it again on Tue with failure to break

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heard barclays sold lump of stgyen

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GBP: apparantly there is a Ј4bn sterling coupon due today, as gilts have gone ex-div. It is likely that a large percentage of this coupon will be swapped out into other ccys, hence the softer gbp today

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"we went long eurusd at 1.5064 target 1.54+ s/l 1.4950 "

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Yesterday's close above 1.5064 was a bullish break. The chart setup suggests a rally ahead following the continued hold of the 55 day moving average, the 61.8% Fibonacci retracement against the early Nov low and the subsequent close to new trend highs

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1y 1.15 eur/usd OT payd 9% in 5 EUR in the brokers. R/R remain (absurdly?) bid for downside in eur/usd despite making local new highs

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Basket RUB coming back to 35.50 51 area. we have seen some corp inflow from offhsore corps.