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EUR/JPY gets clipped as EUR/USD falls towards 1.1450
The price action out there in the major FX pairs is pretty exciting again today and we have seen some sharp moves. Just now we reported the slide in the USD/JPY and explained the reason for that and it has not yet changed although so far no sign of the Fed selling the USD/JPY yet, as far as we can tell. The USD/JPY traded pretty close to 159, but it is off that low as we write. At the same time the EUR/USD got clumped lower and fell towards 1.1450.
It is possible that could have something to do with a month-end order of some sort, but it looks more linked to someone selling the EUR/JPY quite aggressively towards 182.50, but that has now bounced too. If it was a straight EUR/JPY seller then that would seem linked to price discovery on the USD/JPY. The EUR/JPY is currently trading at 183.10
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