Published at 23:54 (GMT) 05 Sep

EUR/USD Flows - risk appetite picks up, but 1.30 a stretch (IGLC2601)

With September S&Ps opening up above 1100 the immediate message is that risk appetite is picking up, though there is still some work to do if we are to see EUR/USD push through 1.2930 and threaten a push back over 1.30. We are fairly certain that a move higher will not be entirely welcome among European exporters, especially outside of Germany. PB