EUR/USD has come lower in early afternoon trade, now down to 1.2725. The strong link with US equities has broken down and central bank demand in the 1.2555/60 area that supported the EUR/USD on earlier pullbacks did not materialize this time.
EUR/CHF has come off as anticipated, now at 1.4678. When international tensions flash the Swissy tends to do fairly well, given its time-honored policy of neutrality. Chinese harassment of a US naval ship is the spark for the Swiss strength.
