EUR/USD’s bounce on the Weber comments did not last long. Digging a little deeper into the text, one finds the Bundesbanker has a very underwhelming view of the European economy which he says will take at least a year to return to growth.
EUR/USD has found support for a third time at 1.3620 this morning. I’m wondering if the Chinese, the BIS or somesuch, is buying back some of the EUR/USD offloaded above 1.3660 and on up through 1.3705 this morning. Espect short-term spec longs to bail if 1.3620 is lost intraday.
