Can't keep a good euro down

EUR/USD flexes its muscles again

A few things are behind the euro strength today.

1. Bunds are under pressure with yields up 2 bps to 0.766%
2. The slight miss on US CPI
3. Euro shorts getting out of the way ahead of the Fed
4. The 200-dma at 1.1235 gave way briefly but it's back above
5. Broad US dollar weakness

Technically, the series of higher lows in unmistakable since the start of August.

Even as I write, the euro has cut through 1.13 to the upside.