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EUR/USD edging higher this morning
The final update yesterday afternoon noted what a disappointment the EUR/USD price action was and how it had again failed to drive home a relative data based advantage which had seen it top 1.1480 earlier in the week. The reason for that was placed firmly at the door of the dollar and the push back to the US currency, due to mounting risk aversion. So, the EUR/USD drifted lower and traded close to 1.1430, ahead of a later US close, at 1.1442.
Rather perversely, this morning the dollar has not gained further, despite the slide in Asian stocks led by the Nikkei and the fall across the US futures and the Nasdaq 100. In fact, the Euro has been pushing higher in recent trading, but we are talking baby steps here folks. The range seen so far today has been tight again and covered by 1.1435 and 1.1452. In all honestly we do not have much more to add at this stage in the day. The EUR/USD is right now at 1.1450
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