EUR/USD up more than a cent
The hiccup in the euro is over.
EUR/USD back to the highs of the day as broad US dollar selling returns. The chart is looking increasingly attractive.
The main near-term hurdle is the July high of 1.1790 which is now just 10 pips away.
The dollar is losing its luster as talk about better global growth steals the spotlight. More than that, a rise in risk appetite globally is likely to attract more capital outside the US and to places like the eurozone and emerging markets, where valuations are much cheaper.
I think we're much more likely to be above these levels at year-end than below.
