We’re up at 1.2515 from 1.2495 when I arrived, having been as high as 1.2525 so far.
Reports have the Reserve Bank of India as a notable seller around the highs.
Buy stops tipped through 1.2535.
Also talk of a “large” 1.2500 vanilla option expiry at today’s New York cut.
UPDATE: As yesterday, middle eastern sovereigns notable buyers of the pairing this morning. Seems as though this interest is rather ongoing.
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