If you were around with us on (early) Monday morning in Australia and New Zealand you’d have seen the sharp drop in the EUR/USD (price chart of the early action is here: Euro getting smashed in early Asia)
Well, its at it again:
1.18605 was the EBS low on Monday (there were some deals lower on the interbank), and we’ve dipped below there this morning.
A catalyst for this dip this morning? I haven’t seen any news etc. to account for it. It’s a further continuation of the lower EUR trend. Trends do tend to, well trend …
The USD is gaining also against other currencies this morning, not just the euro. BUT … take note of USD/JPY …. its not doing a lot, just as USD/JPY didn’t fly on the Monday move of the USD strength, its not heading higher this morning either.
