Well didn’t they do well. Good game, good game.

We’re touch lower at 1.2792.

UPDATE: Also hearing real money seen selling around 1.2800, but we’re not a lot lower when all said and done. At writing we’re at 1.2793.

Risk has been on this morning; European stocks, gold, oil, US treasury yields all firmer. Yada, yada, yada…….

ANOTHER UPDATE: Just being told major US bank seen selling EUR/USD in recent trade. We’re at 1.2790. Not exactly collapsing is we?