I’m asking them, they’re asking me…no one has seen one reason for the fresh EUR weakness beyond the standard “more sellers than buyers…”
Weaker EU consumer confidence, on going sovereign debt woes and reversal to the downside in the price of oil are some of the anecdotes traders are eying.
1.3102 is the 200-day moving average, which could provide some modest support. We’ve been as low as 1.3108.
Decent size spec selling of GBP/USD has been noted in the last few minutes, traders report.
UPDATE at 15:32: Custody ban says they are seeing steady selling of EUR/USD from clients…
