FX Commentary: Eur-USD
EUR-USD recorded 1.4913 session highs amid good real money demand. The interest is reportedly profit taking by short term funds that were short on the way down to the early European lows of 1.4814. EUR-USD’s inability to trade through 1.4800 was the catalyst for good European buying interest, with a Swiss and a U.K. name buying in EUR 500 million each from 1.4830 up to 1.4890 after an Asian sovereign account put a floor in place ahead of 1.4800. Meanwhile, another Swiss name bought EUR 800 million from 1.4990 up to 1.4913.