EUR/USD is back up at 1.3870 having come under some fairly heavy pressure earlier which saw the pairing post a 1.3848 session low.
Sources point to a WSJ article as helping to undermine the euro somewhat. The article headlined “Germany is expecting major budget shortfall” highlights the fact that “weaker tax revenue, soaring welfare bills and new spending for bank bailouts and fiscal-stimulus measures could increase Germany’s debt by more than 100 bln euros next year, as global recession continues to take it’s toll on the nation’s economy.”
Technical supports now 1.3845/50, 1.3820/30 and 1.3800/05.