Societe Generale Research summarizes its tactical bias in G10.
"EUR/GBP looks ready to push below 0.85, just as AUD/NZD looks ready to push towards parity now 1.05 has broken. EUR/JPY on the other hand, has frustratingly run out of downward momentum again," SocGen notes.
"As Treasury yields find a base, there’s less to help it lower and yet. In favour of sticking with EUR/JPY shorts. Patience will pay off eventually," SocGen adds.