Flows, cross-currents, unwinding of stale positions…It’s all washing through the market today, making for a very challenging trading environment.
A clumsily-handled EUR/GBP order helped send EUR/USD higher and cable lower while firm US data help amplify the rise in US yields.
USD/JPY is approaching 83.00 as the unexpected rise in EUR crosses is adding to its already impressive rebound while falling commodity prices help the dollar over all.
Bids are eyed in the 1.3420/30 area with small stops eyed in the 1.3415 area in EUR/USD.
