Aside from the quick sprint toward the 1.4950 level after the FOMC minutes said the Fed considered an increase in its quantitative ease program, it has been a relatively quiet afternoon. We quickly gave back the bulk of those gains after absorbing large 1.4920 offers.
Stocks are at their highs with the Dow well above 10K once again and oil above $75. Gold is steady around $1061 after leading overnight but lagging in US trade.
It’s been a very orderly EUR/USD advance with little to spook longs unless their entry levels are horrific. Dips have barely been to 1.4880 in New York trading as the market keeps the bit in its teeth and hungrily eyes the 1.50 level. We trade at 1.4918 with 25 minutes to until Wall Street closes up shop.
