With many having been badly burned (both on the way up and then on the way back down) by the Geithner comments which were misreported by Reuters, many have retreated to the sidelines and are licking their wounds. This reduced liquidity will make the market more vulnerable to big swings this afternoon if any decent-sized flows hit the market.
1.3500 is support now on pullbacks while 1.3650 is resistance…
