(IGM)The first real move in Europe is higher for [EUR/USD], up about half a cent in opening exchanges. Contacts talk... The first real move in Europe is higher for [EUR/USD], up about half a cent in opening exchanges. Contacts talk of ACB demand along the way and first target is clearly the day's best of 1.3566. Expect some stops through, although we are still better net sellers beneath 1.3650/80 and we expect first real offers zone into 1.3600. Most of the news/speculation stays negative, with ECB's Coene reportedly refusing to rule out an Oct rate cut earlier, while there are very vague rumours of a German study that the country has hidden a huge (possibly Eur 5tln) debt pile.
