Central banks are fairly active this morning, buying EUR/USD on dips toward 1.2810 and letting them go at 1.2880/85. China was rumored buying earlier while the BIS is on top at the moment, we’re told.
Aussie is having a nice pop after the RBA cut rates 100 bp overnight and the Aussie government announced a second stimulus plan. Stop loss buy orders are building in the 0.6425 region, dealers say.
