EUR/GBP is extending gains, now near 0.8210, trading at its highs for the day. Traders have been caught short by today’s typical seasonal demand as well as a broad recovery in the euro as fears of a liquidity short-fall in European money markets were allayed by the ECB refi operation. Trichet saw fit to crow about those results earlier.
EUR/USD is firmer along with EUR/GBP, but below session highs. It trades now at 1.2286.