Dealers note talk of buying out of the Far East in EUR/ISD on dips but say the buyer is not Chinese. The bounces has been limited with EUR/USD treading water in the 1.2620s after a dip to 1.2600.
Improved worker productivity data in the US is being ignored as productivity always rises amid times of sharp employment drops. The worker-bees who remain work their little wings off for a while before productivity finally falls off after a few months. When productivity begins to drop and the economy improves, that’s when employers have to bring in fresh workers.