Not a lot of fun today as EUR/US chops around in a bout a half-cent range. After Chicago PMI, we managed a new high by a pip or two as intraday shorts were squeezed out. Asian central banks were rumored selling strngth earlier in the day and may still be around above the 1.4050 level, but we’re not hearing that directly.
We expect there to be an underlying bid in EUR/US through the 15:00 GMT fixing and the same in GBP, CAD and AUD. beyond that, it’s is tough to say…
