Coincidence? Probably, but it is interesting to note that China often sells out some of the euros it buys on dips after it has secured a 150-200 pip profit…Given the high volatility of late, it makes sense to ring the register earlier rather than later. That said, I have no confirmation that they have in fact been taking profits. This is pure conjecture on my part…
There were a slew of central banks buying around 1.1915/25 yesterday and that was the overnight low…
