EUR/USD: Significant bids noted in early European trade by Sean Lee

With the ECB later today and the NFP tomorrow, the moral of the story may well be that it’s easier to cover shorts in a falling market than it is to try chasing a short-market higher in the event of something unexpected.

Interbank dealers noted around EUR500 million in standing orders near 1.1050 on the way down and another EUR700 million was noted around 1.1025.

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