Seems as though specs are reluctant to chase the euro lower on a Friday afternoon ahead of a holiday weekend despite news that Spain has lost its AAA. The news is not exactly a shock, given the rumors that have swirled all week..
Not sure if there are resting bids below the market holding us up but customer activity has not picked up, bankers say.
It’s not a good thing, that’s for sure, and should help limit EUR/USD rallies.
