EUR/USD jumped to the 1..3546 level after the weaker-than-espected US inflation figures but the rally was short-lived. Options-related sales were rumored into strength ahead of this morning’s 1.3500 expiry. Likewise, expect buying on dips ahead of that expiry.
EUR/USD traded below the levels where we traded heading into the data, now at 1.3505, down from 1.3520 at 13:29 GMT. Bids are eyed at 1.3490 and 1.3460 near-term.
We’re just picking up rumors of BIS sales in EUR/USD after the data…
