A quiet morning session has suddenly become a lot more interesting. Short-covering accelerated dramatically as EUR/USD overcame several prior highs in the 1.3610 region, sending EUR/USD quickly up into the 1.3630s.
US equities are off their lows but they’re still heavily under water, down about 1.65%. Offers remain near session highs at 1.3660/65, dealers report. We trade now in the low 1.3620s.