The Treasury auctioned $35 bln 3-year notes without drama today. The bid-to-cover ratio was 2.42.
EUR/USD is running into offers ahead of 1.3320 near-term. As Blackday points out, the 200-hour moving average comes in at 1.3318, a further patch of resistance. Should EUR/USD move through 1.3320 on a sustained basis, I guess the central banks will be able to declare victory. The BIS bought in the 1.3140s yesterday and China between 1.3150 and 70 today. Focus on 1.3100 will lessen and a return to 1.35/1.36 area will be anticipated.