EUR/USD is on a tear, vaulting 1.3300 as a structurally short market is unwound in thin, year-end markets.
A Fitch warning that the US could be downgraded if it goes over the fiscal cliff combined with better-than-expected Ifo data helped fuel the latest spurt.
1.3285, the May 1 highs, have been overcome, putting the focus now on the 1.3375/80 area.
1.3275 is now support on dips with better at 1.3250/55.
