EUR/USD Declines Ahead of Sentix Investor Confidence Survey
08.06.2009 (09:44)
EUR/USD came back under pressure to
hit European lows of 1.3901. Selling was noted from European interbank
names and model funds from 1.3960, while option related sellers also
came back to the fore amid reports of more euro put interest. One name
dealt one month 1.3400 and July 9th 1.3410 also dealt in good size. A
large U.S. house that is holding large 1.3800 strikes due tomorrow and
Wednesday is getting some airplay, with spot expected to make a gradual
move lower. The same name is also holding 1.3600 June 18th expiries,
which should leave a sell on rallies theme. Real money names and Asian
sovereign accounts are expected to maintain their interest to sell
ahead of 1.4000, which should see the pair maintain its bearish
technical picture.
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