After days of buying dips, Asian central banks have turned sellers on rallies. The 800-pund gorilla has been selling toward 1.4200 with a pair of smaller regional central banks seen selling strength. If nothing else, it looks as though the CBS may be looking for a range rather than a resumption of the strong bull run in EUR/USD. Dealers note talk of a barrier option being defended at 1.6000. UK clearers bought copious amounts of cable between 1.6025 and 1.6050, traders say. CTAs have been strong buyers of USD/CHF this morning, we hear.
Central banks turn EUR/USD sellers on rallies
Source: www.forexlive.com
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