Greece was in the spotlight again today, helping push EUR/USD from opening levels around 1.3420 through 1.3400 very early in US trade. Prices fell below 1.3360 once early in the session and again early in the afternoon but prices soon rebounded.

We heard of selling from quality names today, with US real money accounts and Asian central banks both selling below 1.3400 today. Despite those sales, EUR/USD managed to rebound late in the day after the FOMC minutes showed the Fed is no hurry at all to hike rates. A UK clearing bank was a strong EUR buyer on weakness today.

USD/JPY and JPY crosses continued to unwind recent gains. Key supports at 93.77 in USD/JPY and 125.45 in EUR/JPY were both penetrated. Closes below those levels will prompt further long liquidation. Stops in USD/JPY are clustered at 93.50, traders report.

GBP/USD reversed course in US trade, shrugging off early weakness (1.5145 lows) to rebound as high as 1.5280 after the FOMC minutes.

Commodity currencies remain the darlings of the currency world. USD/CAD edged through parity, falling to test 0.9990 support before steadying. AUD/USD shrugged off early risk aversion and rose to 92.88 late in the session. Australia’s widening interest rate differentials continue to support the pair though the RBA is seen as close to running out of bullets in the near-term.

Any Chinese revaluation could slow the market’s Aussie/Loonie love affair on the assumption that Chinese raw material consumption could slow along with exports.