EUR/USD continues to run into selling on rebounds with bounces limited to the 1.4890 area. US equities are at their lows of the day helping put some renewed downside pressure on the EUR, which is now at 1.4860.
Traders are reluctant to sell EUR/USD aggressively given the market’s inability to hold below the 1.4850 level in EUR/USD. Commodities continue to unwind gains, with the CRB shedding 1.5% so far today.
Commodity currencies trade the worst. AUD/USD is in the 0.9140s and USD/CAD is back in the high 1.0670s.
