EUR/USD extended its gains to the 1.3860 level (EBS high) before easing back to the mid1.3840s. Stocks and commodities are holding their out-sized gains on prospects for fresh, aggressive QE and on increased tensions among central banks as the engineer a race to the bottom among currencies.
The Fed is lapping the field, so far, given its willingness to increase its balance sheet to never-before seen levels.
