EUR/USD triggers stops 1.36+, JPY on the slide

FXstreet.com (Barcelona) - 'Risk on' bids are back at full steam in an aggressive move to punish the USD and Yen with no significant catalyst on the horizon, other than the recovery in the Nikkei, which under normal circumstances would only drag the price of Yen crosses higher, but hard to see how that can lead to such an impulse in EUR/USD, at new 8-month high.

According to David Scutt, Treasury Dealer at Arab Bank in Australia: "Don't know if it's hope or short sightedness that the shutdown will only hurt the US but the price action in Asia today is just plain weird." At the time of writing, EUR/USD is consolidating above 1.36 after stop loss orders were triggered above the round number. Eamonn Sheridan from Forexlive adds: "EUR/JPY obviously a good mover on the higher USD/JPY and EUR/USD moves, approaching a resistance area around 133 now."