Tough trading conditions today as both the major currencies struggle against the rest of the field. EUR/USD squeezed out some intraday shorts with a push above 1.3300 a short while ago. Modest resistance stands at 1.3305/10 and again at 1.3365.
EUR/GBP and EUR/JPY are both in the lower ends of their ranges today with away from the “Big Uglies”, the dollar and Euro to more peripheral currencies. How long this will continue, is open to question. It usually doesn’t last long…
Even the Loonie is rallying today, without obvious support from commodities or risk assumption. Tough day to figure all around, as was yesterday.
