London fix clock

The US dollar has grabbed a big bid into the top of the hour.

The catalyst is fixing flows into month end. It's the London fix rolling through and there's clearly some dollar buying that needs to be done.

EUR/USD is at the lows of the day, falling about 20 pips to 1.0861. The flows in cable are also large, dropping it to 1.2349 from 1.2375.