Dealers report Russia was the main seller of cable today, starting from around the 1.4200 level and not letting up until well below 1.4000. Same story in EUR/USD, they report.
In EUR/USD, central banks were seen selling rallies this morning. The BIS was at 1.3000, selling for one of their central bank customers.
Bids are eyed at 1.2850 in EUR/USD while 1.390 bids in cable were just filled in.
A very large 90.00 option expiry in USD/JPY is eyed tomorrow. That should keep the market from straying too far from that level, barring catastrophe.