EUR/USD is back up to the top of its range, boosted by a spike in oil prices on talk of unrest spreading to Saudi Arabia. Audi has all the spare capacity in OPEC, so unrest there would send prices through the roof and likely plunge the global economy back into recession right quick…No telling where the dominoes stop…
Higher oil prices mean more reserve diversification which means higher EUR/USD seems to be the thinking at the moment. Oil is closing in on $98.00.
