EUR/USD dipped below the 1.2840 level to trigger stops but soon rebounded as stock markets took comfort in the General Motors situation potentially becoming clearer. They are said to have ironed out a deal with Cerberus, the private equity firm, over Chrysler and have reached out to Toyota to help. The Dow is up about 1%, building on Tuesday’s gains.
GBP is on an absolute tear, rising to 1.6475 in very thin trade. Last guy left with a position, please turn out the lights.
