EUR/USD is adrift in a well-worn 1.38/1.3925 range, boosted by worse than expected US current account figures. Demand for EUR/USD was seen from a German name, helping ramp the single currency higher, traders report.
Oil dipped to $69.28 while EUR/USD was at its New York lows but has since rebounded to the $69.85 area.
Also weighing are downgrades for a slew of US banks (22 of them) by S&P.
No surprise, stops are growing in the 1.3935/40 area and again below 1.3800.