Those trading EURUSD on the open Monday were deceived by a false bearish, congestion break that lead directly into a strong bullish reversal. Given the undercurrent of this liquid pair specifically, a number of theories were tapped to explain the move. Risk appetite trends were notable lacking for traction as the S&P 500 passed virtually unmoved. The US dollar itself was underperforming, but notably firm against its high-yield counterparts. That leaves us with Euro-based strength. Yet, has the fundamental backdrop truly improved for the currency, or is this an unusual and temporary factor?
Euro Rally Defies Broader Risk Trends, Can it Last?
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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