Not much happening at the moment in FX land but it is Friday and thus ‘risk off’ day and the Asian market seems happy to sell EUR/USD; whether this is fresh selling or short-term longs booking profits, I cannot tell.
Not much to report close to the market with regard to orders; the big 1.19/1.25 double-no-touch is thought to be still in play but that’s quite a long way away. Buyers are noted towards 1.2200 as hedge funds continue to book profits ahead of the traditional holiday season starting in July. As Jamie mentioned overnight, the EUR/USD rose despite the fall in the S&P, certainly an interesting development.
