EUR/USD has fallen as low as 1.3016 as the market continues to price in contagion from Greece spreading to other weak euro zone credit risk. The spillovers are weighing heavily on commodities today as well as equities.
EUR/GBP has triggered the large stops below the 0.8590 level and has fallen back to the 0.8575 area while even EUR/JPY is falling back as USD/JPY gives a bit of ground, falling back to 94.38. EUR/JPY is at 122.85.
Expect the protective bids in EUR/USD to intensify from about the 1.3010 level.
