The Investors Business Daily/TIPP US economic optimism index rose to 50.8 in November from 41.1 in October. Plunging gas prices, government economic bailouts and the elections are cited as reasons for the bounce. Needless to say, the bounce is greater than anticipated.
EUR/USD has broken below 1.2650 and EUR/JPY below 123.50. A slide to 122.45 is seen in the cross near-term.
