EUR/USD is retesting the 1.2764 highs set late yesterday morning in New York but is running into some selling from the BIS. Traders assume the selling is for the Swiss National Bank, which continues to parcel out its huge horde of EUR/CHF.
Stops are seen clustered now in the 1.2770/75 area but resistance on the charts kicks in at 1.2775/80.
Firm US shares prices, commodities and interest rates show traders are willing to assume more risk today. No need for that low-yielding dollar…
