EUR/USD has extended rally, presently up at 1.2280, having tripped stops above 1.2250. The trigger was the ECB 3-month tender result. The bank allocated 131.933 bln euros, the relatively low demand helping alleviate bank funding/liquidity jitters.
Talk this morning of sell orders now up at 1.2290/00. More stops probably close above there.
Guess the “sharp blackbox fund” mentioned earlier really is SHARP!!! They’re doing OK with their AUD/USD and USD/JPY possies as well.