As is so often the case, the rumor of the deal often looms larger than the deal itself. EUR/GBP came down sharply in anticipation of a large fixing order in EUR/GBP, but once the fixing rolled around, the market had already got itself good and short…EUR/GBP is now rebounding briskly, back above 0.9100 after a dip to 0.9073 around midday in London.
EUR/USD is rebounding in sync, now at 1.5078. Offers are seen in the 1.5085 area though small stops are eyed in the 1.5090/95 area.
