EUR easing a bit into European open

EUR/USD closed on Friday in NY around 1.2995, dropped in early interbank trade to 1.2975, but since then has rallied across the board with EUR/AUD flows to the fore. Old market lore would suggest that Europe will always ignore whatever happened during Asian trade and will take the market back to the NY close before deciding on its next move. Let’s see if it holds up this time.

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