EUR/USD rebounds into the 8am London Fix

For the past 20 minutes or so there has been some pretty concerted EUR/USD buying and that has seen the Euro rise from around 1.1365, towards 1.1400. There is little doubt here that is linked to a potential 8am London Fix and it will be interesting to see where the EUR/USD is when the clock strikes 8am here in London shortly. It will also be interesting to see if that defines the top of the current run or not. The reader is once again reminded of the fact that today is the final trading day of the month and whilst many month-end orders might already have passed through the markets, there remains the potential for more of the same again today. Those month-end fixings can come at the top of any hour and more recently it has been 8am that has seemingly been vogue in that respect. That said, we should not forget the 4pm fix later today though. The EUR/USD is right now at 1.1389