A combination of US Dollar buying and EURGBP sellers has weighed on the EURUSD pushing it under 1.4600 and triggering stops in the process. Sovereign names were seen bidding ahead of 1.4600 but were unable to stop the decline. Quite a volatile day, especially after the early morning stop loss run above 1.4700.
Look for a move back towards 1.4550 before decent buyers emerge.
