EUR/USD reached 1.2451 as traders revert to selling the dollar broadly on bad news for the first time in what feels like years. They’re still not 100% comfortable with the idea though, especially as stocks and oil fall further after the data.
The evidence of a faltering US recovery continues to mount while Europe’s woes and China coming off the boil add to fears of a global double dip. Tough to find a winner in this environment as investors have found in recent years.
I continue to like selling EUR/USD strength ahead of 1.2500 with a tight stops, like the rest of the world…
