EUR/USD

ACBs reportedly bought EUR/USD in early European trade

China and Korea, to name but two Asian central banks, have been very actively buying the USD against their home currencies in recent days. Of course once they buy USD, they usually enter the FX market and exchange some of these purchases for EUR, JPY, GBP etc.

I can’t confirm which Asian central banks bought EUR/USD in early European trade but it certainly did have an effect.

That’s it from me for another day, catch you tomorrow++

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