EUR/USD has rallied strongly back above 1.2400, presently at 1.2410. I haven’t heard any particular names mentioned as notable buyers, but I’d hazard a guess the Asian sovereign seen buying AUD/USD was also likely good buyer of EUR/USD. Doing a bit of reserve diversification.
Stops now seen gathered up through 1.2440, then sell orders said to include sovereign interest noted up at 1.2500/20.
