The pair ended in the US at $1.2978 and then spiked to $1.3207 in the post NY/early Asian hours, as Bernanke’s remarks helped the single currency to its highest in almost 3 weeks. Pullbacks off that peak were largely limited, as order books were cleaned out, with euro-dollar initially slipping to $1.3094 amid some talk of selling in euro cross like euro-aussie. Continued paring of those early US dollar losses then nudged euro-dollar back to $1.3075 in the late morning, some talk also of a Asian account selling the pair down but moves were again subdued as the market licked its wounds. A gradual rebuild of positions saw euro-dollar climb slowly back toward $1.3130 in the late morning with the pair last at $1.3131.
