Not a typical risk-off play today. It could be that the market had a postion that it needed to square or it vould be something that escapes me at the moment, but the usual USD, CHF, JPY safe-haven basket is not working out.
Strike that… The USD safe-haven is not working out. To a certain extent, that makes sense. If a broader Mid-East conflict breaks out, Oil prices will rise and the dollar suffers under that scenario.
EUR/USD is approaching the 10-day moving average at 1.3587. Further resistance is at 1.3621.
