Round up the usual suspects…
Middle East? Check!
Asian central banks? Bingo!
You’d think these guys were in cahoots or something…Both groups have been buyers of EUR/USD on dips both overnight and in NY and they have been sellers on rallies… The Big Panda has been rumored active buying below 1.2920 and selling above 1.2980.
Rinse, repeat.
We sit in the middle, now at 1.2950.
