At month-end, passive investors like index funds rebalance the currency gains and losses on their portfolios. Since US markets rallied strongly this month, overseas funds will likely have to sell those excess dollars. That could support the likes of EUR/USD today. So if you are a raging EUR/USD bear, you may want to wait until after 15:00 GMT to pull the trigger.
EUR/USD trades at 1.4110 after the underwhelming US GDP report.
