At 08:30 London time the difference between the 2 was about 40 points , now it is only about 17 points. I have never seen such a big decrease in 1 day , what's going on ?!
Price of a forward currency contract ("future") is dependent on interest rate differences between currencies. Since future interest rates are suddenly up in the air, I bet the arbitragers have turned off their machines (futures vs. spot) so we have all these relative fluctuations today. Never seen this before, but only been trading since 2001.
Libor-Rates out of whack? The forwardpoints are a function of the Libor-rates differential and the time to delivery.
Dec EuroFX trades 1-2 pips above spot today (on monday it was ~55 pips), implying a nearly flat o/n interest rate differential. I guess Oanda and the likes who still pay positive rolls for long eur/usd are loosing money on this. Not worth trading it in my opinion tho.