One more news release before I cut out
Big Dip and Spike
It's been a volatile morning trading the euro. Comments from the IMF's Lagarde on Bloomberg TV suggesting that the ECB has room to ease monetary policy sent the euro tumbling to $1.3026, but that move was followed quickly by a spike back up to as high as $1.3085. Traders say there was no specific trigger for the rebound. "It just bounced right back from the low," as speculators have been keeping the euro in a range, says George Dowd, head of FX at Newedge in Chicago. Euro now finding a comfort zone around $1.3065 from $1.3033 late Wednesday, according to EBS via CQG
Big Dip and Spike
It's been a volatile morning trading the euro. Comments from the IMF's Lagarde on Bloomberg TV suggesting that the ECB has room to ease monetary policy sent the euro tumbling to $1.3026, but that move was followed quickly by a spike back up to as high as $1.3085. Traders say there was no specific trigger for the rebound. "It just bounced right back from the low," as speculators have been keeping the euro in a range, says George Dowd, head of FX at Newedge in Chicago. Euro now finding a comfort zone around $1.3065 from $1.3033 late Wednesday, according to EBS via CQG
Trade smaller than rational because the market is irrational...