EUR/USD has recovered up to 1.3045 at writing amid talk of Asian sovereign buying. Earlier there were reports of Middle Eastern sovereign sales, so sovereign interest on both sides of the market this morning.
However it should be noted that there is also talk of LHS interest lined up for today’s ECB fix at 13:15 GMT which may negate accelerated gains for the single currency, in the short-term at least. LHS interest is ofcourse interest to sell.
As regular readers will know by now, I’m not a big fan of fix rumours. But at least you know the talk’s out there. Make of it what you will.
