Yesterday's pain is today's gain for the euro
Proving how fickle are the forex markets we're seeing good demand for the euro today in reverse of yesterday's move lower
ECB easing concerns that dominated the landscape yesterday are today's fish n chip wrapping paper as European equity markets head south and giving the beleaguered euro some precious breathing space.
DAX now down -0.41% at 10123.01 just off session lows
EURUSD has triggered stops through 1.1355 to post 1.1365 lifting EURGBP through 0.7335 to post 0.7342 and capping cable which has retreated to 1.5480 after the 1.5507 highs
EURJPY posted 135.91 but offers at 136.00 have proved resilient again as have offers on USDJPY at 119.80
24 hours is indeed a long time in forex. Keep an eye on those equity markets for further clues as I warned here earlier
