BUZZ-EUR/USD- RM moves tell us asset rally just a pull back
Having been on the disabled list for 3 weeks what has most surprised me returning today has been the lack of movement we've had overall. EURUSD closed 1.2280 July 26th, opened NY trading at the very same level this morning. EURUSD has held 1.2133/1.2444 over that 3 week period There was a definite "risk on" sense at the end of July but "interested sellers" arrested that rally at 1.2390. In the interim, rumours of Fed QE3 forced out vulnerable shorts. Probably the most significant development has been EURJPY, 96.10 July 26th, opened today 97.25 (more).