The euro's first look at parity has been beaten back.
It fell as low as 1.0073, which is the worst level since December 2002, with some noting that's the 76.4% retracement of the 2000 low to the 2008 high.
I'll note that today's drop and recovery looks a bit like a washout and with parity offering some support, there's room for a bounce here. But it will take a soft non-farm payrolls report or weak wage growth to keep the momentum going.
