EUR/USD is struggling to maintain cruise altitude despite strong tailwinds from both stocks and commodities. The S&P has cleared the 1100 hurdle and trades now at 1104 while the CRB is up 1.2%. Gold is at record levels with spot at $1118.
The usual talk of Asian central bank sales on the approach of 1.5050 is making the rounds this morning. Looks like the boat is already heavily loaded and may need to shed some cargo before moving forward.
