FX Update- EUR/USD
EUR/USD found support ahead of 1.4670, and has since moved back over the 1.4700 mark in relatively light trade. Dealers reported intraday account short covering under the figure, while a U.S. investment house was on the bid, reportedly linked to EUR/JPY buying. Cross selling had weighed on the dollar pairing earlier, as EUR/JPY slipped nearly 100 points from the N.Y. open. With London gone now, EUR/USD direction from here will likely be driven to a degree by oil and equity market developments.