Quick move to a session high at 1.0885
The euro caught a quick bid and took out some buy stops in a 25 pip rally. The catalyst appears to be waning risk appetite.
S&P 500 futures are down 3 points ahead of the bell after fading just ahead of a record-high close yesterday.
German 10-year yields are aiding the euro bid. They're up 3 bps to 0.79% compared to US 10s, which are up 2 bps.
Those aren't big catalysts but short-euro is a very crowded trade and it doesn't take much to squeeze it.
