EUR/USD pulled back all the way to the 1.2580s on selling from a Benelux bank.
US equities are holding up well despite the dollar strength.
One headline that caught our eye earlier this morning was another big drop in ECB forex reserves. Either they are supporting EUR/USD under the table or they are hemmoraging P&L somewhere els. According to the press release: The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 35.1 billion to EUR 275.4 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations.