EUR/USD has rebounded back above its short-term uptrend in the 1.4088 area, getting a boost from Mr. Dudley’s still-dovish Fed stance and heavy demand for JPY crosses. EUR/JPY is up to 119.30. Equities are soaring today as the US economy shows good momentum, contributing to the risk-on atmosphere. The S&P is less than 10 pips from 2011 highs while the Dow is making new highs for the year as we write.
Stops above 1.4120 have been triggered…Looks like the “easy money” for USD longs have been made for the day…
