Dealers say one of the US custody banks is buying “boatloads” of EUR/USD. As we noted earlier today, there have been massive asset shifts from one US institution to another in recent sessions and this may result in sharp moves that have nothing to do with the fundamentals. One side of the move is a buyer of EUR/USD and the other side a seller. If they do not come to market at the same time, this leads to big price dislocations. Other times, huge flows go through but both sides happen to find one another and keep prices from moving…Timing is everything in life…