Chian got the ball rolling this morning buying dips toward .4100 and now two other regional central banks are buying the dips ahead of 1.4200. Dealers note a trend toward central banks buying dollars against local currencies and then flipping a portion of those dollars for EUR,GBP, AUD etc.
EUR/USD has recovered to 1.4225. The BIS was a heavy seller toward 1.4280 earlier this morning, dealers say.
