It's been a case of some love returning for the euro this morning after it's rapid sell-off post-FOMC
Equity markets turning lower and better than expected regional German CPI data have combined with some profit-taking to send the euro higher across the board so far
I highlighted in my earlier post that I felt the move lower was overdone and so it's proved with EURUSD climbing to 1.0977 after an early wobble to 1.0918 , EURGBP to 0.7190 fr0m 0.7157 and EURJPY to 132.60 from 131.80
That in turn has put a cap on cable and put demand under USDJPY. Similar patterns have emerged in other euro pairs
But there's plenty of offers/res around not far away to help keep alid on further euro gains so not surprising that intra-day traders are happy to take some profit on their longs
EURUSD has good resistance/supply between 1.0980-1.1000 and EURGBP at 0.7200
All delicately poised still as we wait to see what our friends across the pond make of our session so far with US Q3 GDP flash at 12.30 GMT bound to have impact
