Forex - EUR/USD, USD/JPY Flows: Japan's SoftBank Group Corp has agreed to buy Fortress Investment Group LLC for about $3.3 billion in cash


 02:33 (GMT) 15 Feb

  [Forex Flows]

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EUR/USD, USD/JPY Flows: Japan's SoftBank Group Corp has agreed to buy Fortress Investment Group LLC for about $3.3 billion in cash (0100-LNPQ-C01)

Reuters: Japan's SoftBank Group Corp has agreed to buy Fortress Investment Group LLC, a private-equity firm and asset manager, for about $3.3 billion in cash - a surprise move for a group that has to date focused on telecoms and technology. Led by charismatic founder Masayashi Son, SoftBank has made unpredictable moves in the past, not least its decision last October to set up a $100 billion technology investment fund with Saudi Arabia. A New York-listed asset manager, Fortress's investments span real estate, hedge funds and private equity. It had $70 billion in investments under management at the end of September 2016.

EURUSD might have traded below 1.0590, but stiff support was found at slightly lower levels of 1.0560, despite several attempts below. Another test appears to be in the offing, though we doubt that the Asia traders have the necessary will and means to bring prices lower. A firm break to sub 1.0550 levels would likely only be seen on the entry of Europe. Thicker bids are seen at 1.0500 = 10 levels.


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