EUR/USD has bounced from session lows along with stocks and along with several rounds of buying by the BIS, the central bankers central bank. It is hard to get excited about EUR/USD against the still negative fundamental backdrop (plunging financial shares, interest rate cuts from central banks, high levels of risk aversion) until prices overcome significant short-term obstacles between 1.2590 and 1.2610.
The head of the United Autoworkers Union is holding a press conference shortly. That seems to have helped bouy stocks near-term on hopes for a give-back.
