EUR/USD has drifted off in early European trade, presently down at 1.2745 from an early 1.2780. Stocks are not performing very well, S&P futures off 6 points, FTSE down 0.7%, DAX30 off 1.28%, and this will be pressuring the pairing. Also aforementioned talk of very large interest to sell EUR/JPY will be weighing on EUR/USD.