EUR/USD holding pretty steady whilst everything else moves

Author: Sean Lee | Category: News

USD/CHF and USD/JPY are somewhat lower on the day, cable has fallen back towards it’s hourly support around 1.4920 and of course the AUD/USD is falling sharply. The EUR/USD nevertheless remains fairly stable with EUR selling against the CHF and the JPY  being almost balanced out by EUR buying against the GBP and the AUD. Dealers say that Sovereign names like the BIS and Asian central banks have buying interest on the 1.2100 handle and that only a break below 1.2100 will reignite the bear trend.

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