EUR/USD is edging lower after stalling at the 1.2933 level after a round of EUR buying from a reviled US investment bank. Support on dips comes in now around 1.2880, the range top which contained EUR/USD for much of the morning hours.
Look for the 1100 level in the S&P to be a catalyst today. A break above that level will likely boost risk appetites while another failure could prompt profit-taking among those already carrying “risky” trades.
