Traders are grabbing what direction they can and the better than expected German and Eurozone PMI has wiped out the earlier losses after the weaker French release
EURUSD has posted highs of 1.3845 but has offers at 1.3850 capping further moves for the moment while EURGBP has chewed through decent offers at 0.8230. EURJPY has taken out offers at 141.80 but still has a few left at 142.00.
Now we have to see whether the gains can be sustained or we’re just making the most of tight ranges. I reckon the latter but it all seems very thin out there so we could see higher levels still.
