Forex: EUR slips by the Tokyo close

FXstreet.com (Barcelona) - Coinciding with the closing bell in Tokyo, also end of month and fiscal year over there, EUR has taken a 30 pip hit down in both EUR/USD pair and EUR/JPY cross, while GBP/USD has also seen offers down to 1.5178 from above 1.5200 moments before 06:00 GMT, while these two markets, mainland Europe and London, will remain closed over holiday, thus reducing liquidity to the maximum, and enabling price action to such sharp spikes.

More stabilized now since then, EUR/USD is last at 1.2809, EUR/JPY at 120.38 off session lows at 120.24, and Cable back around 1.5200. As many of market participants and media reporters are away over holiday, no catalyst for the move has been given so far, nor any new headline has been crossing the wires.