Being given as reason for recent slippage in EUR/USD. Whatever that means. Take it for what you will.

We’re at 1.2910.

But just being told big bids noted 1.2900/05.

Said to be some 700 mln lined up at 03.

Earlier told stops through 1.2900. Also told stops through 1.2890.

UPDATE: I think stops through 1.2890 more pertinent, because also got reports bids noted 1.2890/95.

Will be interesting to see if bids in 1.2900/05 area can hold this slide. Look little vulnerable. We’ll see.