Once EUR/USD failed to overcome 1.3400 shortly after the open of the US equity markets, EUR/USD turned lower and it has been down ever since.

We’ve been as low as 1.3306 with the IMF’s further denial that it has anything in the works for Italy a weight in the last hour or so.

Small offers are seen in the 1.3345/50 area near-term, traders report, while buyers are seen in the 1.3275/80 area.

We trade quietly now at 1.3315.