MAS move to steepen and widen Singapore dollar’s’ currency trading band plus generally robust risk appetite (Asian stocks posting strong gains, oil up nearly another buck etc) have conspired to place further pressure on the greenback.
EUR/USD up at 1.4080 from North American close Wednesday down around 1.3960, with stops tripped above 1.4030 accelerating the rally.
Further stops now seen gathered up through 1.4110, while 1.4030 an 1.4000 will be initial support levels of note.
Euro zone data as such pretty much thin on the ground, but we have:
08:00 GMT: ECB publishes October monthly report
09:00 GMT: German Economic institutes reloease bi-annual group forecasts
10:30 GMT: Italian cabinet to approve 2011 budget plan