Fourth quarter GDP fell less than expected in the US, down 3.8% versus expectations of a fall of at least 5.5%. That Obama guy is knocking the cover off the ball!
EUR/USD jumped to 1.2865-ish on the headline but most are not buying the data outright. This is the first view, and most think it will be revised lower in the months ahead. The flight-to-quality bid to the dollar has diminished somewhat.
Prices have already settled down with EUR/USD only marginally firmer at 1.2835.
