EUR/USD is in consolidation mode after easing as far 1.3168 around the 16:00 GMT fixing. With those flows out of the way and equity and commodity markets firming up a tad, dealers have set about covering intraday shorts. Some are eying the 55-day moving average in EUR/USD just below the 1.3200 level, but that is not one that I have on my radar.
USD/JPY remains underpinned amid earlier rumors of demand from the BOJ, helping underpin EUR/JPY in the 118.50 area. earlier in the day we tested the area of support around 117.75.