Sharp selloff in the euro down to 1.2244. Reported bids at 1.2250/60 got blasted as stops took the pair down to 1.2237.
Bids now clustered around 1.2200/15 with more stops below.
Selling on the crosses sparked the move as EUR/JPY took out the overnight lows. The euro is at fresh record lows versus the commodity bloc and a long-term low vs sterling.
