EUR/USD absorbed offers in the 1.4320/30 area and most of those arrayed between 1.4340/50.
Markets seem to be paying more attention to mundane matters like economic growth as opposed to the continued existence of the euro or the global banking system or some other existential threat. Thank goodness for that…
After seeing the market with fresh eyes after a week of vacation, I guess I come down as a dollar bear. If they greenback did not rise on last week’s safe-haven turmoil and tighter money market conditions, it might never rise… That’s my knee-jerk reaction anyway.
My opinion doesn’t matter, though. China’s does, and it seems very content to keep a managed peg in EUR/USD between 1.40 and 1.45-ish…
