EUR/USD sinking in range; Buyers were here earlier…
Not a lot of buzz in the market this afternoon so it is tough to get much of a read on things at the moment.
EUR?USD has eased back into the 1.2805/10 area, a level where a European corporate was a significant buyer earlier in the session. Expect a few small stops just below 1.2800 if it turns out there are not on the bid this time around. Better support remains in the 1.2775/80 region. Stops are seen around 1.2770 if that level gives way.

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Kan may lose it if he does not do anything about the Yen.
Jamie – How long does it take usually for the currency to start affecting the economy(data) like Deflation, Profits etc etc.
http://www.bloomberg.com/news/2010-09-02/most-osaka-exporters-expect-annual-profits-to-miss-forecast-on-strong-yen.html
Couple of quarters, but at 95.00 JPY was too strong too by most measures…
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