Looks like the dollar is seeing a bit of pre-weekend short-covering as the week draws to a close in Europe.
While no one expects much from the G20 this weekend (and all indications are we will get even less), with the market still overwhelmingly short dollars, we’re just seeing some natural position adjustment.
Bids in EUR/USD are seen in the 1.3900/10 area in small; larger bids are down at 1.3850/60.
Cable bids are at the week’s low of 1.5650 but heavy stops are seen in the 1.5640 area. Those might attract some attention in thin Friday afternoon markets.
