EUR/USD fell as low as 1.4722 just ahead of the month-end fixing but its sprang higher just moments ahead of 16:00 GMT. Looks like the market was looking for an imbalance on the sell side and it suddenly turned into an imbalance on the buy side.
Expect markets to be thin and very whippy this afternoon as traders try and stay as close to the sidelines as possible ahead of the weekend. EUR/USD trades now at 1.4755.