I guess there must be something to the reports of large-scale selling of EUR/USD tied to an M&A deal above the 1.3800 level. We reached the 1.3822 level on comments from the Buba’s Weber that ECB interest rates can only rise (but we already knew that…)
Less clear are the remarks from the Fed’s Bullard. The bullet points from the wires seem to imply that he is open to scaling back QE2 but at the same time will not rule out QE3 if it is needed. He says inflation is rising, and that shows QE2 is working…
Markets are very choppy…