EUR/USD is down at 1.3737, having closed out last week in North America up around 1.3760.
The move comes amid ongoing speculation China is close to implementing further steps to rein in growth, which is weighing on Asian stocks. Morgan Stanley expects “multiple” increases in bank reserve ratio requirements and higher interest rates, starting as early as next month.
Elsewhere Sunday’s Irish Times carries comments by EU spokesman, saying euro zone has not agreed a financial support package for Greece, but that technical work is ongoing.
Very little in way of euro zone data today:
10:00 GMT: Euro zone unemployment Q4
Tail end of last week there were reports of sovereign sell interest lying around 1.3800 and these reports have been supplemented by talk of further sell interest up in the 1.3830/50 zone.
