EUR/USD sits at 1.3127, very marginally firmer from the North American close Monday down around 1.3125.
The single currency has garnered some underpinning from the news that Japan will buy bonds issued by the ESM in a bid to weaken the yen and support Europe. It has to be said, the news is hardly a surprise.
Talk buy orders now clustered 1.3100/05 and 1.3080/90, sell stops below. Sell orders clustered 1.3130/50 and I’d hazard a guess buy stops close above there.
At the end of the day we’re range trading, parameters 1.3000-1.3300.
