Signs that the US economy, specifically the labor market, may be coming back to life, are helping ease geopolitical and European sovereign debt jitters.
EUR/USD and AUD are being bought back, as well as EUR/GBP as traders cover short positions.
Medium and long-term EUR bulls are taking heart in the bounce off the 200-day moving average in EUR/USD this morning.
I’m just getting reports that the BIS is already selling into the AUD and EUR rallies…