EUR/USD down at 1.3350 from a North American close Friday up around 1.3415. Inbetween the pairing did manage to get to 1.3452 in ultra-thin early Sydney/Wellington trade, before meeting decent selling from model funds.
Fed’s Bernanke came and went. Whilst he didn’t rule out further QE, his comments were deemed more measured than some had feared. This prompted some dollar shorts to cash in their chips.
European finance ministers have a meeting in Brussels later today, starting at 17:00 GMT. Whether the EU should expand its’ 750 bln euros bailout fund will be a hot topic of discussion, no doubt.
Little in the way of euro zone data today
09:30 GMT: Euro zone investor confidence for December, expected 11.0 from previous 14.0
The 100 dma is noted at 1.3335, with small-ish stops said to be gathered through 1.3330.
