EUR/USD up 55 pips
Fading trade war headlines is suddenly the best strategy in markets. The latest threat from Trump was the main headline today but it's effects have been fleeting.
It's been a recurring pattern as dust-ups with China, NAFTA allies and others are faded.
It's a tough reaction to square as the stakes are seemingly raised daily but it looks like a bet that Congress will eventually restrain Trump, or maybe that it won't derail global growth and rate hikes? Even shares of Daimler are up today despite the trouble.
As for the euro, it's finishing the week strong but it still has a long way to go to recover from the +200 pip plunge on June 13.
