Stocks have turned south again and EUR/USD and cable are sliding with them. Seems as though traders have mostly switched off and algos are now running the market. Should make for an interesting afternoon. Expect razor-thin conditions for the balance of the session, especially after Europe closes for the day in about an hour.
Just crossing the wires, Barclays tells clients it sees the ECB on hold until December 2012. It previously expected a hike in December of this year.
