Sell stops were tripped on the move down through 1.2880 to lows of 1.2864 in thin trading conditions and more stops loom on a break of 1.2850. US and French named banks reportedly behind the move in an apparent delayed reaction to an FT article printed last night which stated that Finnish, German and Dutch appeared to step back from a key agreement freeing Spain and Ireland of billions of debt EUR/USD’s currently trading around 1.2872 (full story)