EUR/USD has extended it’s rally, duly triggering aforementioned stops just above 1.4770 and hitting a session high 1.4791 in double-quick time. Next hurdle for euro bulls will be psychological 1.4800 where there is said, not surprisingly, to be various option interest. With that in mind sell orders noted at 1.4790/00.
Elsewhere cable is struggling, so far, to rally through 1.6300, presently back at 1.6385 from session high 1.6298.
Risk appetite remains in good shape. The Asian Development Bank will have helped general sentiment. The Bank overnight released a report saying Asia, excluding Japan, will grow by 3.9% in 2009, up from previous forecast of 3.4%. The Bank also says growth in 2010 could be 6.4%.
