EUR-USD is largely stagnant close to the 1.4050 area. Euro-Zone inflation was confirmed at -0.1% y/y, which was in line with expectations and failed to give the market fresh impetus. Option strikes at 1.4000 and 1.4100 have influenced, with reserve managers tipped on either side of the market, while a rise in risk appetite reinforces the risk of a challenge on stops above 1.4100-20. EUR-JPY has been a leading influence on EUR-USD, with the cross trading up to 131.68. Offers have been heavy ahead of 131.80, which is where good technical resistance is and also the top of the Ichimoku cloud, ahead of good sized stops above.
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