EUR/USD has seen a fresh wave of buying as important resistance at 1.3300 has been overcome and a barrier option at that level taken out. Options-related buying by firms that are short gamma is helping underpin the fresh rally.

The macro picture is coming back into line as USD/JPY rebounds sharply which has helped EUR/JPY begin to rally as well. Emergingmarkets commodities and equities are all firming at the moment. EUR/USD has reached 1.3329 so far.