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GBP/USD in a five-week range - BBH

Sterling remains within a five-week trading range of roughly $1.30 and $1.3320.  

Key Quotes:

"Speculative positioning in the futures market is roughly balanced between the bulls and bears, leaving a net position of long 1.2k contracts.  

The US two-year premium over the UK has to rinse from the year's low of 90 bp in mid-September to nearly 120 bp here in November.  The high for the year was set in March a little above 130 bp.  

The three-month (25 delta) risk-reversals (skew between calls and puts) show a premium for sterling puts, but that premium had been falling since early October, until today."

AUD/USD nears 0.7600, fresh 4-month low

The softer tone of commodities and Wall Street holding modestly up, despite slides in overseas counterparts, pushed the Aussie to fresh 4-month lows 
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BoJ’s Kuroda: Long way to go before reaching inflation target

Key quotes from the speech by BoJ Governor Kuroda titled "Quantitative and Qualitative Monetary Easing and Economic Theory" at the University of Zuric
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