Well the lack of bounce was a telling factor with EUR/USD continuing to edge lower and is now trading just below 1.22. We are heading towards last weeks low of 1.2143 with a break here likely to be very powerful. EUR/JPY, according to Reuters is now trading at an 8 1/2 year low touching 109.34 a few moments ago. AUD/USD and GBP/USD are just heading lower in line with others. Talk of semi-officail bids in USD/JPY at 89.50…….if not definitely at 89.00.
Bill auction in the Spanish bond market is being blamed for the latest leg down in the Euro……do we actually need an excuse!
