Ho-hum trading in most pairs today but anything related to the euro or pound has gone gangbusters.
Both are now at fresh highs of the day at 1.3199 and 1.5379, respectively.It’s no coincidence that both of those figures end with a ‘9’. Look for buy stops if the next round number ticks over.
Hard to know what to make of the strong euro buying — now up 175 pips since the early European lows. I hate to trade when I don’t understand a move and I don’t see a reason to fade it. EUR/JPY buying seems like a culprit but if the size was large it would be helping USD/JPY.
