Just incase you’ve missed my comments in the comments section, here we go.
Various sources are telling me that two very large US banks are suggesting that the month end dollar sell orders they have to execute are some of the biggest for months.
We’ve already seen very decent rallies in both EUR/USD and GBP/USD so far this morning, so this information should be handled with some caution. Sounds kinda weird that two banks should be letting it be known so universally. Gotta think a fair portion, if not all, of their orders have been executed already. Or maybe I’m just being cynical.
At least it does tend to confirm that the sharp rallies in both pairings were due in no small part to month end considerations. Well that’s what it confirms to me.
