EUR/USD is quite the laggard today, breaking its typical link with equities. EUR/JPY continues to rise, but much of the gains are coming from the USD/JPY leg of the cross.
EUR/USD is running into consistent selling in the 1.2215/25 area on rebounds this morning. Traders are wary it could be some part of Iran’s EUR 45 bln….
The S&P 500 is up 1.1% and the EUR/JPY trades at 112.75. EUR/USD is at 1.2216.
