EUR/USD has firmed to 1.4624 so far, but it is having trouble holding gains despite a rise in US equities following upbeat US economic data. EUR/JPY absorbed 133.50 offers but USD/JPY stalled in front of 91.50 offers from the same names.
The market trades heavy. Looks like the market is heavily long of EUR/USD and is not getting the bang it wants for its buck.
Reports of selling by the BIS is making the rounds after the data.
EUR/USd is sliding now, at 1.4590.