Ugly turn of events for the euro as it falls into negative territory after dropping 70 pips in the past hour. It’s now at a session low of 1.3020. I warned about the tractor beam but the selling has hit like a thunder bolt.

There is nothing on the orderboard until 1.3000. Better bidders are at the weekly low of 1.2985 and strong corporate bidders are waiting at 1.2960/50.