The latest leg higher in EUR/USD apparently had rather alot to do with a major Swiss bank executing a large order for a model fund apparently. Sources say the bank started buying aggressively around 1.3655/60.
As regular readers will be aware our coverage can get a little sparse late morning, as I need to get away and do my morning wrap. It’s something which annoys me immensely and for which I guess I apologise. I was hoping the situation was going to be rectified soon, but that doesn’t now seem to be the case.
Just so new readers are aware of what’s happening.
UPDATE: Was told major Swiss name still apparently executing order when we were down at 1.3670/75 a few minutes ago. Will help explain latest leg upto 1.3685.
