No surprise, but reserve managers have been spotted on the bid in the 1.4680 area, traders report.
As noted earlier, if the market remains directional, these guys will likely only slow the decline.
The central bank bids auger well for EUR crosses and will come as music to the ears of EUR/GBP bulls, who’ve moved the cross as high as 0.9156 today. We trade now at 0.9147.
