Just when it looks like we may be making a move with some legs, bingo-bango, we’re right back where we began. EUR/USD has reversed its late London rally to the 1.3585 level and cable’s pop to 1.5509 has faded, with prices falling back to 1.5460 before a bounce.
USD/CAD is among the most confounding pairs this morning, slumping to 0.9972 little more than an hour ago, only to spike to 1.0015. Looks like protection of 0.9950 barriers remains in play.
