Stops triggered down to 1.3492 with larger bids noted at 1.3480-85 and more stops below there and 1.3470
EURGBP down at 0.7905 from 0.7917 chewing through bids to 0.7900
EURJPY being cited as another prime mover as fresh bids between 1.3700-10 get slapped
No key reasons for the euro’s weakness that I’m hearing, but I’d say that longs were less than impressed by the lack of rally once the equity markets opened firmer, and their drift off has given good enough reasons to get out.
And I would add that USDCHF’s reluctance to come lower in the past few days may also have sent a signal with some good demand this morning easily taking it through offers at 0.9000 now from 0.8987 to post 0.9010 so far
