A strong bid to cover in the auction. I there were any jitters about Chinese participation after their de-peg of the CNY, they are probably lessened by the result.
EUR/USD trades near its firmest levels of the session in the mid-1.23-teens after holding support at 1.2240 first thing this morning. Continued range-trade is seen. The rebound is impressive given the fact that EUR/CHF trades near record lows of 1.3590 as the SNB made crystal clear (like Garrett Morris) that they were out of the forex intervention game for the time being.
