This Great Graphic is the monthly bar chart of the euro. It was constructed on Bloomberg. It shows that the euro has been turned back from a monthly trend line drawn off the 2008 record high and the 2011 high near $1.50. The euro's demise has been long foretold, including by ourselves. It was the ECB's reluctance to ease in early March that broke the dollar out of its five-cent/five-month trading range between $1.33 and $1.38 and set up the test on the trend line. With the backing up of US yields and the continued dovish push by Draghi, as he ostensibly tries to build a coalition in favor of taking unconventional ... (full story)