It’s been a fast dip in EUR/USD. Prices have pulled back to the support zone in the 1.3570/80 area from highs of 1.3627. I have not heard specific talk of central bank sales yet but given their recent activities, I’d not be surprised to hear of selling by the BIS.

UPDATE: We’ve gotten confirmation of profit-taking by central banks who were buyers of EUR/USD earlier in the day in the low 1.35s.