EUR/USD, lacking any fresh catalysts, drifted to 1.3200 at the New York options cut. Dealers note slightly lower US bond yields weighing on the buck this morning in addition to a solid bid underpinning EUR/JPY.
Dealers say US institutional investors are beginning to close their books for year-end, with many expected to finish up the bulk of their activity by the end of this week. If that is the case, EUR/USD may have topped out for the time being, capped at 1.3365/67. It trades now at 1.3197.
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