Market is overpricing risk (update 4) - US/German/Swiss investment bank/s buying a lot of EUR

On the cusp of EU stress tests, this could indicate a massive sell at the 1.30 point v's USD, if EU stress tests fail to invigorate the market.

Or a mis-pricing of risk has spilled over to Western markets from an insane day (20th July 2010) of Asian risk buying particularly out of Japan and China