US equities are down roughly 0.5% after Weak Chicago PMI data and more drag from a sluggish Europe.
The Euro Stoxx 50 index is down around 1.4% as prices settle out.
With USD/JPY in full retreat and a general malaise hanging over the market it is tough to see a great deal of upside in EUR/USD. EUR/JPY should provide a drag if risk aversion remains in during US afternoon trade.
EUR/JPY trades at the days low of 105.53.
