Summer has not even had its unofficial Memorial Day kickoff yet and already afternoon trading has slipped into the doldrums. One upshot of lower volatility is fewer thrills and spills, so I guess we have to pick out poison.
EUR/USD is edging higher in quiet trade with a modest short-covering bid noted in EUR/GBP after good selling this morning from a US custodial name.
One interesting sidebar to the sterling demand was the fact that a chunk of it was crossed against AUD, EUR and CAD, the highest fliers of late…