EURUSD made a run at 1.3800 yesterday in early US hours, but was unable to maintain a head of steam and the action is likely to get distinctly more two-way as next Wednesday’s Federal Open Market Committee (FOMC) meeting approaches. The euro got a big of a boost after the European Central Bank (ECB) board member Benoît Coeure was out with surprisingly hawkish rhetoric — particularly for a Frenchman, given the state of the French economy. He specifically rejected the risk of deflation or the need for the ECB to begin any large scale asset purchase akin to the Fed’s quantitative easing programme. The USD also got a bit o ... (full story)