EUR/US continue to find buying on the dips ahead of the 1.3500 level with options protection and reserve diversification at work. South Korea and Russia have been big sellers of their own currencies in recent sessions and they consistently sell some of the dollars raised via intervention and buy EUR with the proceeds.
Looks like 1.3530/1.3600 for now with an eye on jobless claims ahead. Traders will be watching closely to see if last week’s big drop in claims was an anomaly.
EUR/USD trades now at 1.3565.