Overnight reports from the interbank market suggest that the bids on the interbank platforms below 1.2020 were lighter than expected. Not sure if this means anything, it is after all 1.2000 which is being defended, but it is interesting to note that overall turnover is relatively normal.
I’m sticking to my view that the risk associated with trading this pair just isn’t worth it so its best left alone. Heavy central bank intervention will cause disruptions across all currency pairs and this is another factor to watch out for.
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