EUR/USD extending recovery
The Dubai World news seems to have been the trigger for quite a rebound in risk sentiment. EUR/USD up at 1.2730, EUR/CHF up around 1.3000. Cable has rebounded strongly, presently at 1.5450.
Guess we should be alert to renewed SNB selling in EUR/USD, the Swiss central bank having been seen active seller up in 1.2750/65 area yesterday.