Dealers note some talk that barrier options at the 1.2750 level will be protected if EUR/USD weakens further this afternoon. EUR/USD bottomed at 1.2763 a week ago, so there could be something to the rumors. Given recent price action, perhaps a 1.2750/1.3350 DNT is playing out?
EUR/GBP remain heavily offered. Strong support for the cross lies in the 0.8835/40 area. It earlier today broke trendline support at 0.9030.
