David Fuller's view Taking a contrarian view, I shorted US Treasury Bond futures this afternoon, selling the September contract at 123.75. My latest AUD/JPY long has been ranging in and out of profit so I placed slightly in-the-money stops when the AUD was near its high for the day this evening. These were triggered as Wall Street retraced it rally. Consequently, my September longs were stopped out at ¥74.50 against purchases at ¥74.07 and ¥73.67 on 21st May.

I may reopen these trades in the event of some further easing. I am trading, as you can see, but I am keeping positions small in this choppy environment.

Prices above include all spread-bet dealing costs.