The market has settled down into a nervous consolidation, wary of the next gargantuan flow that could catch it completely off guard. The late London fixing in a bit over an hour could be the next catalyst. So far, the only tidbits we have picked up regarding the fixing is talk of demand for AUD and Kiwi.
EUR/USD is consolidating below 1.4815 resistance and should find support now in the 1.4760/65 area. Small stops are seen around 1.4760, traders say.
Cable is giving back some gains, now at 1.6565. Small support is at 1.6500 with better at 1.6465.
