Traders report offers from central banks on rebounds to the 1.2400/10 area now that EUR/USD has broken lower once again.
Much of the weakness in EUR/USD this morning has been blamed on reports of SNB reserve diversification.Diversification or not, the SNB were large sellers of EUR/USD this morning, no matter the motives.
Small stops are eyed below the 1.2350 level in EUR/USD, we hear, while larger stops are rumored in the 1.2275 area.
EUR/USD changes hands at 1.2373 after making fresh session lows at 1.2350.