Mid-East central banks helped drive EUR/US up but sell orders from their brethren in Asia helped cap the rally. More offers are seen in the 1.4465/70 region, dealers report.
Expect the market to be extremely order-driven today, trading from pocket of liquidity to pocket of liquidity with little speculative grease in between.
In normal markets there are ample speculative players and market makers to keep markets fluid. In year-end markets like we have today, specs are far less active and market makers pull in their horns dramatically, making markets far more choppy than usual. That situation will not right itself until next Monday.
EUR/USD trades at 1.4435 after topping out at 1.4458 earlier.
