EUR/USD has barely been able to pullback below the 1.4700 level after the rally reached 1.4732 earlier this afternoon. Traders will focus on closing levels, with prices above 1.4720 late today one more confirmation that the EUR remains north-bound. 1.4750 and 60 barriers remain rumored while technical resistance is not seen until 1.4866, the post-Lehman melt-down high.
Cable remains a laggard, as Michael noted in the comments. EUR/GBP is the hot EUR cross these days as the UK looks likely to ease monetary policy further by lowering deposit rates at the BOE in an effort to force banks to lend. Many see banks keeping their powder dry even at zero interest rates as they are more concerned with preserving capital than lending for a profit. EUR/GBP trades right near session highs around 0.8930, keeping cable offered at 1.6495.
US continue to rise in tandem with the euro, up 1.4% at new 2009 highs.
