EUR/USD continues to find buyers in the 1.4010 area with Asian central banks the main suspects. Hey, when you sold your amount at 1.4300, why not take a few back near 1.4000? Nice work if you can get it. Bad trades just go to the reserve account.
EUR/USD has bounced to 1.4040. No one believes the ECB will follow the IMF’s advice and cut rates, but clearly the market is still nursing long positions and is vulnerable to surprises. The strong US equity rally is not doing the EUR/USD much good this morning. Shares are up 1.9% i the first half -hour of trade, approaching 1,000 on the S&P.
