The move below 1.3700 earlier in the EUR/USD took all the EUR crosses lower, especially EUR/CHF and EUR/GBP. That move is now being reversed and it looks like it was just another stop-hunting exercise in thin markets. I expect that the EUR lows from earlier will now hold until Europe comes in and provides new impetus. Remember it’s NFP night tonight so many traders will be squaring up before the event.
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