EUR/USD is edging lower after running to 1.3676 on a stop run after tripping the 1.3650 option barrier a little while ago. It has been a flow driven market with the dire Irish banking concerns, a Spanish ratings downgrade all cast aside by month end flows and ACB buying interest. EUR/USD is now down around 40 pips from its high with the buying interest seemingly exhausted for the time being.
GBP/USD is also down 40 odd pips from its elevated 1.5924 high whilst AUD/USD which was rebuked at 97 cents even is back to 0.9680 where London opened. US equity futures are showing small losses for the NY open but nothing to get too excited.
