All sorts of talk swirling this morning that leveraged accounts unloaded a big EUR/USD position on a UK clearer (or a short USD/CHF position, depending on the version). Some blame that flow for the moves higher in USD/CHF and lower in EUR/USD, and not the SNB…
The move was so aggressive, one wonders if it was to meet a margin call in another market….
UPDATE: Here’s another twist: The Reserve Bank of India is said to have dropped a half-yard of EUR/USD on the market….
EUR/USD is trying to stabilize in the 1.4520s after a dip to the 1.4510 area.
