EUR/USD was unable to meaningfully extend its range to the topside 45 minutes or so, so it came under some natural profit-taking pressure. Since that time, stocks have turned sharply lower and the reflation trade is seeing a fresh round of book squaring across the spectrum.
Oil prices have turned down again after a mid-morning pop, Gold is back below $990 and EUR/USD has pulled back to the 1.4660s. Look for equities to provide most of the impetus for the balance of the session as algos handle most of the pricing duties. Most of the “finger traders” ( a living, breathing human who uses fingers to click a mouse to trade) are already looking ahead to the weekend.
