Beware the risk-off trade. US equities are down 0.9%, their first decent pullback in what feels like months…
EUR/USD has pulled back to the 1.3475 area. We dipped to the 1.3470 area earlier today in NY amid reports of Asian central bank buying…Expect a few small stops to be seen below that level now.
The so-called safe-havens are in sudden demand…USD/CHF is slumping fast, down to 0.9545 from near 0.9580 a short while ago. USD/JPY is down to 81.90.
EUR/CHF is slumping as well. Keep in mind earlier reports of SNB bids at the 1.2850 level. We trade now at 1.2895.
