• China was the main EUR/USD seller from the 1.4120/30 area earlier this morning
  • Further stop-loss sell orders lie at 1.4040/45
  • Far Eastern central banks sold GBP/USD at 1.6480/85, Russia joined in, pushing prices below 1.6380 stops the first time down. Stop-loss sell orders lie at 1.6275/80; bids are at 1.6250
  • Japanese offers remain in the 96.80/00 area
  • Bids are seen at 1.0770 in USD/CHF and 1.5200 EUR/CHF
  • RBNZ the next central bank to intervene: UBS
  • Goldman recommends selling EUR/SEK