EUR/USD has pulled back to the 1.2850s as US equities give up their early GDP-inspired gains. The S&P is selling off rapidly, down well over 1% from intraday highs.
Expect markets to stay choppy and thin, especially after the 16:00 GMT fixing passes. The dollar is generally expected to be in demand at the fixing today as Janauary draws to a close and passive investors hedge their currency exposures.