Not sure for who or why but a US giant is leaning heavily on EUR/USD. It has fallen as low as 1.2204 so far. Next support of note is the 1.2180 level.
Looks as though day traders were expecting more Asian central bank dip buying to limit the downside but it looks as though they may have already have gotten their fill…
Traders also mote solid buying in USD/CHF from a Swiss mega bank, helping ramp that pair to a fresh session high at 1.1652. A US custody name is involved on the buy-side as well.
