Heavy dollar selling
The dollar selling the models predicted into the London fix is kicking in.
That has helped to send EUR/USD up to 1.1020 after hitting a low of 1.0981 at the start of North American trade.
The move in USD/CAD is particularly impressive given the huge drops in oil and natural gas prices. Crude is now down more than $2 on the day yet USD/CAD is at a session low at 1.3279.