EUR/USD is seeing accelerated losses, presently down testing technical support at 1.3910. There is talk of option interest at 1.3900. Support below 1.3910 comes at 1.3880.
The euro is being underminned by a number of factors. Among them are comments made by ECB’s Liikanen suggesting the possibility of further ECB easing.
Ongoing talk of China selling interest just up above 1.4000. Moody’s downgrade of Italian banks. Downbeat comments made by ECB’s Constancio, who feels that the indicators are still very negative in the euro zone. Really crappy Irish housing data, down 1.9% m/m in April, the fastest pace of decline since the index started in 1996. Aggressive selling of the EUR/GBP cross on breach of important support.
And the list goes on, but that’ll be doing ya.
