Currency markets have been inundated with fresh factors to mull over and dealers
look to be taking a more "measured" approach to that end today after reacting
violently to yesterday"s surprise revaluation. The fallout from China"s move is
still being assessed; terrorism risk remain high; economic disparities linger in
place as the US economy chugs along near trend growth rates while the Eurozone unemployment is the latest shoe
to drop, falling 1.5% on the month and down 3.3% from the same period the year
before.
1.2140 bids are seen on dips this morning, offers toward 1.2190. 1.2150 expiries
are seen this morning, helping bracket the price action near-term.