EUR/USD has given up a big figure overnight, presently at 1.2060 having been as low as 1.2051 so far. There are concerns over Soc Gen’s derivatives operations; growing fears of Hungarian debt default after comments from Hungarian PM’s spokesperson; the SNB failing to protect 1.4000 in EUR/CHF triggering big stops; expectation of strong US jobs report. Just some of the factors impacting at present.
Talk now of 1.2000 barriers.