Took a while but EUR/USD has managed to trigger stops above the 1.3825/35 area and has squeezed as high as 1.3855 on EBS.
Chinese comments on increasing use of the IMF’s Special Darwing rights is a dollar negaitive, as is that chorus of “Kumbaya” being sung in Athens.
Risk-on is the play this afternoon as equities rally strongly, up 1.8% basis the S&P. A European recession? Goff for risk! It will bring QE3 and QE-oui!
