Goldman Sachs – EUR Flows Update

EURUSD update – odd move lower in EUR crosses over the last hour on no flow.  You could make the argument that the single currency is just having a delayed reaction to Greece concerns/periphery widening, but this may simply be dealers liquidating inventory having been preparing for a run towards 1.15.  We think playing the range makes sense as we approach the 1.1300-20 buy zone.

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