1.08 is a big level for EUR/USD, 2.8bn in strikes for May 30

EUR/USD is sitting just under 1.08 as I update

The big figure may well act as a magnet during the session with 2.8bn in strikes at the level on May 30.

EUR remains under pressure as policy divergence weighs, the ECB is seen cutting rates next week, at its June 6 meeting while the latest indications from the US Fed is that rate cuts are many, many months away – improving inflation figures will need to be seen first.

I hovered my cursor around 1.07916 as seemingly likely support, looking back at that high from the 13th.

This article was written by Eamonn Sheridan at www.forexlive.com.