Though volumes are light, the dollar is showing across-the-board strength after the US GDP and jobless figures.
GDP continued to muddle along in Q3 (though forecasts for Q4 are for 3.5/4.0% growth) while the employment outlook continues to brighten a bit.
Overhanging the market are fears that a French downgrade could come at any time (though not until the afternoon NY time).
Rumors to that effect continue to swirl, aided by the “12 hour” rule, in which the ratings agencies are bound to warn rated entities of impending changes. Since most governments leak like sieves, any downgrade will be well in the market long before it hits the wires…
EUR/USD edged through support at 1.3025/30 and hit 1.3019 a moment ago.