EUR/USD started around 1.4880 and gently ticked higher eventually reaching session high 1.4905, where ACB selling emerged capping the rally. Comments from ECB’s Nowotny, suggesting any ECB tightening is some ways away, helped pressure the pairing and we’ve drifted back to where we started, presently at 1.4875.
Talk of sell orders at 1.4900 up through 1.4950. Also talk of specific ACB standing sell orders up at 1.4920/30, good till nfps. Also talk of decent stops starting just North of 1.4915, so somewhat of a mixed bag up ahead.
Cable finishing morning marginally easier, presently at 1.6590 from an early 1.6615. The pairing rallied early but intially ran into good sell interest at 1.6620, rumoured to have been the BIS. However these rumours were later quoshed, the selling apparently having been down to a French name.
After a brief dip though, cable rallied again, reaching session high 1.6635, where decent selling from a UK clearer capped the rally. There was talk of stops gathered around 1.6640, but these remained safe.