Traders report some real money selling of EUR/USD late in the session.
It is often relatively late in the afternoon before the custodial banks get their orders that result from traded done in the European markets this morning. If all the custodians end up the same way, we should stay offered in EUR/USD into the close…
Just crossing the wires, EU economics commissioner Rehn says that market confidence will be strengthened once Ireland publishes its four-year fiscal plan. The EU has not discussed seeking any external help with Ireland, he says.
EUR/USD trades at 1.3917.
