Rather than the usual pattern of central banks selling rallies in EUR/USD that we’ve seen in recent weeks, the BIS is buying the so-far modest dips in the pair. They were spotted on the bid at 1.2785 a short-while ago, dealers report.
EUR/USD reached 1.2821 before stalling as stock markets rally on better business at Citibank and hopes that mark-to-market accounting could be modified.
