It's been a session that's seen a few consistent themes 21 Feb
The most consistent has been euro weakness as fears rise/continue over a year of forthcoming elections as the political landscape prevails over the economic variety.
EURUSD has ignored good PMI flash data to chew its way down to 1.0533 with EURGBP and EURJPY following suit to 0.8475 and 119.76.
Both pairs have bids/support down there but we're seeing little relief and rally sellers await.
European equity markets have firmed a little from an uncertain start and we may be seeing, in addition, a return to the funding currency correlations that we saw previously but not for a little while.
USD demand generally is notable though with GBPUSD on session lows of 1.2411 and USDJPY/USDCHF both higher at 113.70 and 1.0092 albeit retreating from their session highs.
USDJPY has offers/res between 113.80-114.00 which I have highlighted in previous posts today.
