EUR/USD down 80 pips to 1.1212
The euro sagged Friday and after an early bounce to start the week, it's under heavy pressure.
Goldman Sachs was out with a weekend note highlighting global growth concerns. They said the ECB will extend the bond buying program (slated to end next Sept) until the end of 2016. That's a modest amount of additional QE but they say it's enough to drive the euro 6-10 cents lower.
Technically, the latest move broke Wednesday's low of 1.1214 so we're trading at the lowest since Sept 9. Support is at 1.1200 and 1.1170.
Bids listed at 1.1185 1.1165 and 1.1150.
