Psychology for major markets Jun 25

EUR/USD – EUR/USD holding near 4 year highs with the USD losing safe haven support as Mid-East concerns fade, but unclear whether there is impetus for further gains

USD/JPY – JPY still soft on the crosses despite a modest recovery on Tuesday as geopolitical concerns receded, but weakness looks overextended

EUR/GBP – Holding above 0.85 but GBP a little firmer as risk appetite improves modestly.

AUD/USD – Found good support below 0.64 and retains scope for gains above 0.65 although rising expectations of RBA easing are limiting upside

Equities – S&P looking stretched above 6000 as some significant negative tariff impact still likely but all time highs within reach.