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The EUR/GBP has certainly rebounded today and that move has come as the GBP/USD crumbled from an earlier session high at 1.3000, to a low at 1.2844. It is actually no coincidence that both moves hit respective highs and lows right on the 4pm London fix- the final fix of the month, which saw the EUR/GBP rise to a high at 0.8453 and the GBP/USD slide to a low at 1.2844. Both have reversed some of those moves since then, but whatever happens this evening we are going to see a negative close on the GBP/USD tonight and a corresponding positive close on the EUR/GBP. So, there is no doubt here; that someone pulled the trigger for the month-end fix and that looks 100% like it was a massive EUR/GBP order set for that event. That is especially the case, as the dollar did not gain at all elsewhere, versus the Yen and the Euro, when that EUR/GBP order went through the market. The EUR/GBP is currently trading at 0.8436
Well, you were alerted to something rather strange going on this afternoon in Gold and since then the metal has taken another lurch lower. This time...
The US stock markets have not long reopened for the final trading session of the week. It has been a very modestly higher opening across the board...
Given the reaction in the GBP/USD and the USD/JPY after the US sales data you might easily be forgiven for thinking the EUR/USD should be above 1.05...
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