Traders report a fairly sizable Vanilla expiry at the 1.2400 level this morning. If we are in the ballpark near 14:00 GMT, odds are we will gravitate toward the strike.. At the moment we are a bit out of court, at 1.2362.
For what it is worth, the BIS was a rumored seller on the move back down through 1.2400 in early New York trade.
