EUR/USD rallied early getting to 1.4515 before turning south. Euro bulls no doubt little cautious of running into China up around 1.4520 ahead of 1.4530 barrier interest.
I haven’t gotten any reports of the Giant Panda selling into this latest rally, rather Eastern European and Middle Eastern names seen notable sellers above 1.4500. The market will have duly noted the uncompromising comments from Ifo’s Sinn. We’re back down at 1.4495.
Some stops seen gathering above 1.4530.
UPDATE: Major Swiss name seen buying EUR/USD below 1.4500, helping slow sell-off so far. We’re presently at 1.4495 in jittery, indecisive trade.