Wanders toward the high for the week/last week
The EURUSD has extended to new highs on the day and in the process is moving to the highs for the week/last week at 1.1426 and 1.1448 respectively. Risk is now against the 1.13938 (61.8%) and 1.1400. Stay above those levels is more bullish for the pair.
The pair is getting a boost from Weidmann's comments and also a touch more hawkish ECB meeting minutes.
The ECB is trying to ease the market toward less accommodation. The problem is rates are so low. Yes... the German 10 year is up from 0.2300% to 0.5700%, over the last few weeks and is trading at the highest level since January 2016, but the rate remains very low historically.
