EUR/USD: Talk of ‘interesting’ names on bid just below 1.3140

On quiet days in Asia there is no shortage of ‘talk’ and this morning’s mutterings are that an interesting name, by that I’m presuming that it’s either China or another of the big Sovereigns, is on the bid below 1.3140 and that’s why we’ve had the mini-mini-rally in Asia today. If that’s all that’s behind this mornings 40 pip rise, then it will probably be given back before Europe comes in! More of the bored mutterings is that the buying is related to IMF payments to the Greek bail-out, and I have absolutely no clue whether this is possible as its beyond my technical understanding of how these things work. Though if Gerry mentions during European trade that the BIS is on the bid, then pay very close attention!