FX Update- EUR/USD
EUR/USD sellers in the form of sovereign accounts reportedly returned over the 1.4750 region, taking the pairing back under 1.4740. Earlier, speculative buying was largely behind the euro’s rally, as dealers took their cue from rising oil prices, and falling U.S. equities. Next up, the 10:35 EDT EIA petroleum inventory data usually shakes up the oil market, and could provide some short term FX volatility.