EUR/USD: Quietly Supported by Cross Bids

EUR/USD trades quietly in the mid-1.2510s with dealers noting far more interest in the crosses this morning than in spot. EUR/JPY is within shouting distance of recent highs in the 150.20/25 area. Solid demand for EUR/CHF is noted this morning as well. EUR/USD offers are stacked above the market between 1.2555 and 1.2575, dealers note. The downside is guarded by options-related buying ahead of 1.2500 barriers. 1.2550 and 1.2500 vanilla expiries are noted in the next hour.