Speculation from Nordea on European Central Bank verbal intervention. Infor via EFX (For bank trade ideas, check out eFX Plus).
"The ECB is by the way probably not ready to accept >1.20 levels without a battle either. They managed to temporarily temper the EUR/USD momentum in August and September 2017 when sources kept leaking stories to Reuters and Bloomberg every time 1.20 was breached.
"We are on alert of a similar rhetorical intervention from Frankfurt should the EUR/USD gain too fast again this autumn"
