EURUSD and USDJPY swing around at the fixing
The fines for the forex fixing have been levied and paid. Traders have been fired and the fixing is supposed to be clean, but there was some wild swings - relative to the days range - at the fixing time today.
The EURUSD moved down about 30 pips in the last 10 minutes leading up to the fixing. Then shot up around 30 minutes after it.
The USDJPY moved up about 40 pips into the fixing. The apres market has been less volatile - falling only about 10 pips.
It certainly seemed from the action that there were buyers at the fixing. In the collusion days, there would have been electronic high fives all around in text messages and drinks after work after having a nice pay day at the end of the month...
Just saying....
