Forex Flash: Majors trade sideways as Eurozone debt appetite increases – Investec

FXstreet.com (Barcelona) - The market reaction to the headline news was muted to say the least with EUR/USD and GBP/USD lacking any meaningful direction. In particular, the EUR/USD is desperately looking to move either side of the 1.3050 this morning and eyes will be on today’s French and Spanish bond auctions, which should give a further sign of investor risk appetite which has warmed towards Eurozone debt in recent weeks.

According to the Investec Research Team, “A suitably strong bid to cover ratio and we should see the EUR strengthen as a result. The GBP/USD has been very much the same, looking for direction either side of 1.5250.”