1.4275 contained the pullback ins EUR/USD and now the single currency has bounced back in very thin Friday trade. Weber’s comments were nothing to rev up risk appetites but strong US equities may be prompting some reversion to the old “risk on”mentality that has dominated for so many months. We trade now at 1.4336.
Looks like whatever that selling flow was at mid-morning in New York has dried up at present levels. It will be interesting to see if the market can sustain a rebound toward 1.4375 and if sellers still lurk. Nothing would surprise me at this stage. Nothing.
