Good news comes in threes; single currency got a decent lift from the well received Spanish and Greek auctions and the better than expected German ZEW survey. But once again there’s been no real followthrough with market participants quick to book profits.
From a session high 1.3172 post ZEW data release we’re back down at 1.3150.
Seems to me sovereign players are happy to sell into appreciable rallies at the present time.
