An impressive rise to start the week for EUR/USD as it overcomes last week’s highs in the low 1.2150s and adds a cent to its tally in the process.
News that Euro zone-headquartered banks have $1.6 trln in exposure to Greece, Spain Ireland and Portugal was taken in stride, an indication of how solid the rally has been.
Gerry notes solid sellers from about the 1.2275 level near-term with more stops from about 1.2285. It trades now at 1.2245 as New York settles in.
