EUR/USD had been running into consistent selling interest at the 1.4880 level but managed a blip up to 1.4885 before slipping back. More selling is seen at the 1.4900 level, traders report. The tumble began from the 1.4920 level where China is said to have unloaded on EUR/USD earlier in the session; expect stops on shorts to be placed just above that level. Eastern European buyers are seen in the 1.4840/50 area, traders reiterate.
EUR/JPY is heavy in early US trade as the cross dips below its 200-day moving average at 132.03. A close below that level tonight should see greater long liquidation ahead of the weekend. Stops remain in the 131.70 area.
