Traders report the Indian central bank is still selling EUR/USD into strength in the 1.3075/85 area as EUR/USD consolidates its latest gains. Improved risk appetites as well as a threat from Moody’s that it may have to review the US’s credit rating it it does not set out a long-term fiscal plan have hurt the dollar today.
Of note technically, 1.3080 is the 61.8% retracement of the 1.3820/1.1876 decline.
