EUR/USD Still in Demand From Central Banks

Traders report steady interest among central banks to buy EUR/USD on dips this morning. Upwards of a yard (EUR 1 bln) was said to be bought buy Korea this morning after the Stark comments saying that there will be no European bailout for Greece. Traders say the buying continues around present levels, but rallies seem quite muted.

Iceland and Greece are back in the headlines and that is never a good thing for the EUR. it would appear.

The sharp bounce from below 1.43 keeps alive the perception that we are trapped in a range somewhere between 1.4200 and 1.4500 probably until the employment report, if not beyond.

EUR/USD trades now at 1.4352.

By: Jamie Coleman Forexlive.com