AUTOREFRESH 
EUR/USD extending gains, life breathed back into reflation trade
By Jamie Coleman || July 16, 2009 at 18:34 GMT
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EUR/USD has firmed toward 1.4150 as US equities have returned to the black, oil has turned up on the day and bond yields have stabilized. Upbeat NAHB data and Roubini’s view that the worst is behind the US economy appear to be giving the trade new life.
The 1.4165 spike high after the funky jobless claims data this morning. It should be noted that central banks were sellers near present levels earlier in the day.
JPY crosses have risen on the rebound in the reflation trade. EUR/JPY is now at 132.55, roughly a yen above session lows at 131.60 this morning.
The daily chart is looking to break out of the the triangle. Overhead resistance is around 1.4232
Daily chart:- http://img2.pict.com/34/cf/04/1203435/0/eurusddailytlines.png