As noted earlier, bids in the 84.00 region in USD/JPY may force EUR/JPY sales to spill ove3r to the EUR/USD leg of the cross. That has been the case in early afternoon trade as EUR/USD slumps to 1.2685 and EUR/JPY to 106.65.
An earlier dovish article regarding the ECB, suggesting that the Bank will continue to provide unlimited funds to European banks on both a weekly and three-monthly basis through the end of the year. The article also said the ECB remains concerned about reliance of many EU banks on ECB funding.
1.2590/1.2610 is a very important support zone for EUR/USD but will likely not come in to play this afternoon ahead of important US data tomorrow like ISM.
