EUR/USD dropped during Asian trading

EUR/USD dropped during Asian trading. The decline to 1.3600 brought bids that were led by a Swiss supranational and there were hints of the usual sovereigns. From 1.3589 lows at the eurozone open prices climbed through offers from the same supranational at 1.3700 and kept going until 1.3745-50. An Austrian announcement that EFSF ratification vote failed to pass panicked the market sending EUR/USD swirling lower. After clarification it was seen as a delay tactic and prices rebounded. A new intraday high at 1.3783 was fuelled by equities and nothing negative from the Merkel, Sarkozy, Papandreou conversation.