It stops by for a brief visit but it doesn’t unpack its bags, does it?
Small bids are seen at 1.3460/65 near-term.
Better bids toward 1.3415 with the obligatory stops just below.
The IMF’s warning that it will likely lower its outlook for global growth in January is taking some steam from the risk-trade.
EUR/USD is not getting a lift from a continued large rebound in European bond prices resulting in big drops in yields. Italy’s 10s are 35 bp lower today at 6.72%, Spain is down 50 bp in yield to 5.76% after successfully auctioning paper this morning.
