EUR/USD sits presently around 1.4400 having closed up around 1.4530 in North American Wednesday. The euro meanwhile has seen across the board weakness, EUR/JPY down at 129.70 from around 130.45, while EUR/GBP is down at .8860 from around .8900.
The trigger for the euro losses was the 1.4500 dnt being blown up and then large stops through 1.4450 triggered accelerating the move.
The USD bulls have been enboldened by the Fed’s assertion that employment and consumer spending trends show the U.S. economy is strengthening. The euro for its part remains vulnerable to worries surrounding the fiscal plight of EU countries such as Greece and Spain and also the vulnerability of the European banking sector.
For today not much on the economic data front:
09;00 GMT: Italian unemployment Q3 s.a. expected 7.7% from 7.4%
10:00 GMT: Euro zone construction output s.a for October
Not much there to get too excited about.
European stocks look likely to open lower today.
Supports now 1.4370 and 1.4350/55.
