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Thomson Reuters
May 23 - 05:00 AM
EUR/USD - Central Bank Intervention Set To Weigh EUR/USD Down
First appeared on eFXplus on May 23 - 03:10 AM
  • Significant drops for many Asia currencies trigger intervention
  • Bank of Korea selling dollars again today nS6N20Z02O
  • BOK is not alone. Interventions are growing. HK & Indonesia have sold USD
  • CBs usually rebalance FX reserves after, buying USD back vs G10 pairs
  • CBs usually seek value, so will look to sell EUR/USD strength, 21-DMA 1.1184
  • Low vols in majors mean rebalancing flows may have larger than usual impact

EURUSD Click here

Source:
Thomson Reuters IFR Markets

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