EUR/USD sits at 1.3078 having been as high as 1.3086, trading having slowed after the earlier hectic rally.
Decent Spanish bond auction results, strong buying of EUR/GBP in the wake of very poor UK retail sales data, and strong buying of EUR/JPY as BOJ resurfaced buying USD/JPY combined to drive EUR/USD higher. The release of much better than expected euro zone trade data for July has helped underpin the pairing further.
(p.s. nearly forgot; decent EUR/CHF buying ahead of SNB rate decision also lent EUR/USD support)
Sources now note “good” offers having surfaced up at 1.3085/95 while stops are seen gathering up around 1.3120.
