EUR/USD having moved above 1.4000 in early European trade (posting 1.4013 session high), is presently back below at 1.3990.
The pairing is being supported by increased U.S. debt worries and decent risk appetite. The release of better than expected German retail sales data will also have lent the pairing some underpinning.
German April retail sales rose +0.5% m/m, versus -0.4% in March and better than the median forecast of flat.
In recent sessions we’ve heard ongoing reports of China sell interest lying in wait above 1.4000, and this will be weighing on the pairing when it gets above said level. Haven’t heard of China sales so far this morning, just off now to check with sources.
