The S&P has recouped all its early losses, helping give EUR/JPY a renewed boost. Each leg of the cross is underpinned but off their best levels of the morning after earlier talk of central bank activity in EUR/USD, USD/JPY and GBP/USD, respectively.
EUR/USD resistance is now up at 1.2885, the high seen after rumors of ECB buying in EUR/USD surfaced in London which was quickly followed by reports of the BOE calling around to the banks in the City to take the market’s pulse. EUR/USD trades at 1.2825 now while cable is at 1.3725.
