Looks like Mr. Market took all the talk of big sales at the ECB fixing to heart and ended up getting short in anticipation of an order that wasn’t large enough to meet the demand of those looking to scope up cheap euros as a result of the order. Once supply proved insufficient to meet demand, up we went, back close to 1.3050 before stalling.
We’re back to dull markets when we’re paying attention to fixes rather than trading on bigger themes…
Small sell orders are scattered from 1.3060 on up, traders report. Bids from 1.3020. 1.3025 and 1.3000 expires in decent size are rumored this morning which could help keep price action from staying to far from those levels…
