Tapering =/= tightening. That is why.
If QE Tapering Is Coming, Why Are Yields, the US Dollar Index Not Ripping Higher?
Starting about two months ago, I began thinking the euro was setting up as a very nice sell candidate as it rebounded after what looked like five waves lower. What has transpired in terms of the euro’s trading action – especially versus the greenback – has been a relentless march to the upside (including a recapture of the previously broken uptrend line and the successful conquering of various potential resistance levels on the way up). When the prevailing thoughts were that we would see “perma-tapering” – something that has been mentioned by some respected media types (especially when the data were more ... (full story)