EUR/USD blew through the 1.4050 level, triggering another swath of stop-loss buy orders. Offers revert toward the 1.4100 level, said to be options-related. Some of the demand this afternoon is coming from a well-compensated NY investment bank, dealers report.
On the flip side, the US dollar index has broken cleanly through support at the 80.45 level noted earlier, helping undermine the index technically and invigorating the downtrend.
Recent lows at 80.31 have broken as well, undermining the index further. 79.45 is next support of note.
