US dollar weakness was the theme early (in anticipation of a loss to Ghana, no doubt) but the flurry of early trading has flamed out.
The top attention grabber in the early going was the euro’s jump to 1.3579 from 1.3530 following the Bloomberg story on the ECB staying on the sidelines. That was the excuse the market needed to get away from 1.3500 and now EUR/USD is consolidating around 1.3570.
If trading picks up again today it will be after the final whistle of Germany-Portugal, although all that’s left to find out is whether Portugal will get beaten as badly as their neighbours.
