EUR/USD was rebuffed on its first attempt to build a toehold above the 1.3350 level but it is having better success in its latest go to the topside. We’ve rallied as high as 1.3370 on short-covering late in the day.
Now that 1.3350 has been breached, looks like we may drift back toward the 1.3390/00 area where Asian sell orders are rumored.
Dollar-negative comments from the Brazilian finance minister (see below) seem to be helping undermine the Greenback in quiet afternoon trade.