EUR/USD quickly rebounded from the 1.4900 area toward 1.4930 with no apparent catalyst so dealers surmise one of the central banks was a waiting buyer on dips. The list of potential names is long with Russia, Lat Am and Asian central banks all trying to hold down their local currencies. They buy dollars to undermine the local unit and then shift a portion of the proceeds into euros, a process we’ve seen day after day for months and a constant support for single currency.
1.4970 offers are seen on strength amid talk of barriers at 1.4975, 1.5000 and 1.5050.
