Euro had recovered off a European hours push under $1.3000 that erased an option barrier strike while failing to build much downside momentum. Euro dithered above $1.3015 in early US dealing but with upbeat retail sales data bolstering risk, euro enjoyed modest lift to $1.3055 before stalling and steadying atop $1.3040, though amid light flows. A second push higher touched $1.3064 before disappointing mid-morning data undercut stocks, the euro deflating to $1.3025 before beginning a better rally that carried to $1.3074 around the London fixing as stops were erased, the euro then pushing on to $1.3086 ahead of the London close. Euro stalled shy of $1.3090 into early afternoon but a run of stops above $1.3100 saw euro spike quickly to $1.3148 with talk of investment bank buys. With offers visible at $1.3150, euro deflated slightly for trade to $1.3130, ending at $1.3140.
EasyForexNews Research Team