DislikedFor those of you unaware of why EUR/USD is getting hit, you probably know it has to do with the BoJ intervention on USD/JPY by now. However, if you don't know why that's messing with the Euro, here's why:
For the BoJ to strengthen the Yen, they buy a bunch of USD/JPY which means their essentially weakening the Yen by purchasing USD. This essentially puts their books heavily USD based and they don't want all that currency risk on one product. So, they have to get rid of it, or re-distribute the risk. They do this by selling other pairs, mostly...Ignored
If you are new to Forex? Say Goodbye to your account!!