Investors have not been beating down the doors to buy US Treasury issues at auction this week. The five year auction just went off at 2.689% with a bid-to-cover ratio of just 1.92. The average cover for this issue is well above 2 times.
EUR/USD is at session lows of 1.4013 with risk aversion the prevailing theme. US equities are under further pressure, not far from the lows of the day. We’re down 0.8% at writing.
Stops are eyed below the 1.4000 level, traders report.
