My colleague Vincent Cignarella, a former trader with three decades of foreign-exchange experience under his belt, likes to say the euro is like those big fat bumble bees that lazily float around your garden: it shouldn’t be able to fly, but it does. The absurdity of the euro’s valuation has been as apparent as ever this week as it briefly broke above $1.38 and just barely missed out on setting a new two-year high versus the dollar, all while data are showing persistent improvement in the U.S. economy and stagnation in the euro zone’s. Like a tired, broken record, the euro exchange rate again highlights the impotence ... (full story)