At 1.4000. The Giant Panda has been a notable seller around these levels of late, so it’s not a huge surprise. What was more surprising was the earlier talk of “Chinese” buying in low 1.3960’s. Maybe it was only commercial interest as we suspected, or maybe China is becoming a super jobber!!! Heaven forbid.

We’re at 1.3988 having been as high as 1.3999 so far.