EUR/USD has fallen close to session lows with about 40 minutes left of cash trading on Wall Street. This is the time when markets tend to get directional, so we may be in for a bout of late-day risk aversion.
China has been a rumored buyer of EUR/USD on dips today and trend lows are down at 1.2510, not far from present levels. Expect the downside to be a slog with pretty solid efforts to keep EUR/USD from falling off the table near-term.
EUR/USD trades at 1.2547 and the S&P is down 1.1%.
