Dealers note accelerated profit-taking in the last half-hour as macro hedge funds take some chips off the table. There is lots of event risk over the next two days, so it makes sense for these guys to lighten up. They seem to be hitting all aspects of the reflation trade: covering dollar shorts, selling commodities and buying back US treasuries.
EUR/US triggered a few stops below 1.4150. Bids are seen at 1.4140 and again at 1.4100/10. Sovereign bids are scattered along the way, traders say.
1.6320/25 is solid support in cable though stops lie below. AUD just broke support at 0.8050. 0.7990 is next support of note.
