UK bank cited as prime seller through the 0.8225-30 support earlier and again after the sharp rally while I was making that cup of tea in the PMI aftermath. GBPUSD and EURUSD both being flicked around in the process
I’ve been highlighting a softer tone to EURUSD all morning given its lack of sustained rally above 1.3740 which we can attribute to ( in no particular order):
- EUR 2bln option expiry today at 15.00 GMT which I reported earlier as usual
- possible ECB action tomorrow
- ongoing Ukraine concerns
- A N Other ?
Arguments to dismiss these ofc but it stacks up to me. What say you?
