Risk-off.
Dealers in New York are blaming Russia for the earlier buying in the 1.4090 area while talk of Asian sales has made the rounds this morning. Risk aversion is on the rise again as China continues to set the pace in the global equity markets after a 4.6% slide last night. S&P futures are down 1.2% at writing.
1.4060/65 and 1.4045 are the near-term support points below the market ahead of the big prize at 1.3975/1.4000.
