EUR/USD surged as high as 1.3901, absorbing significant selling interest along the way and knocking-out an other exotic trigger at 1.3900. Price are retrenching a bit as specs had to swallow a whale to move prices up through 1.3900. EUR/USD trades now at 1.3886.
Keep an ear out for talk of ERU/USD buying from European corporates. That will be a sign that those accounts are hedging future receivables and that this move is becoming panic-driven.
