EUR/USD claws back from session lows, yet still lodged at 11-month troughs around 1.2940 and off 1% on the day. Although analysts caution against drawing conclusions about sharp moves in holiday-thinned markets, the break below 1.2945 signals a deeper correction toward the 2011 low at 1.2860. That’s an area traders could test as soon as tomorrow, when Italy is scheduled to auction new 10-year bonds — a test of investor sentiment seen as more important than today’s sale of short-term bills. EUR/JPY claws off ten-year lows at Y100.72, down about 0.85% on the day at 100.90.
EasyForexNews Research Team