EUR/USD slipped in early US trade, spurred higher by the combination of hopes the US could halt the QE2 program before completion after comments over the weekend by the Fed’s Bullard and on Merkel’s poor showing in German regional elections over the weekend (not to mention the usual and on-going sovereign debt concerns. Sovereign buying on dips to the 1.4025/30 area helped EUR/USD to build a base in intraday trade while hawkish comments from Monsieur Trichet helped spark a sharp recovery that triggered stops above 1.4060, sending EUR/USD as high as 1.4116 before it slipped back into a consolidation. Trichet comments ... (full story)