Middle Eastern sovereigns have been blamed for every rally in EUR/USD over the last week, so I guess you can blame them for this one…Tough to intervene in oil markets, so by stabilizing the euro, you keep the crude market from collapsing may be the logic…
Stops above the 38.2% retracement of the 1.2748/1.2556 decline at 1.2629 were triggered in this latest pop.. More resistance is up at 1.2652.
