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Broader base buying

EUR

Small underlying bid in the EUR, testing high against the USD, after testing lowest level since 02/12 yesterday, weighted by the Political risk.

  • Short cover and squaring the early driver
  • EUR test high of the session versus the JPY, CHF, CAD, and close against the Pound.
  • MNI tech Initial resistance in EURGBP, comes at 0.8937 High Jan 13
  • EUR is keeping Bund offered, albeit in thin volumes.
  • Immediate support in Bunds comes at 176.96 61.8% retracement of the rally between Jan 12 - 14

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