EUR/USD reaches 1.4809 before latest bounce

Traders continue to lean on EUR/USD with barriers at 1.4800 an important target for a handful of big banks, who likely have exposure to one or more Asian central banks holding 1.48/1.51 barriers. If they can push the market to 1.4799…poof…no more exposure, and they get to pocket the premium…If prices stay in that corridor through 15:00 GMT Friday, then they have to write a big check…