Germany has helped calm jitters that Ireland could run off the rails and have to go hat in hand to the IMF. The Big Brother of the eurozone said that he’d look after the little one…
That, along with a strong rally on Wall Street, has set off a strong rally in EUR/USD and the crosses. EUR/JPY has overcome 126.10, EUR/CHF is near post-intervention highs at 1.53 and EUR/USD has surpassed 1.2900. If lucky enough to be long, we’d suggest booking partial profits here and again toward the 1.2990 area.
