Stocks and EUR/JPY are joined at the hip today, moving in lockstep as they did months ago. US equities are bouncing sharply and EUR/USD and EUR/JPY are zooming higher with them.
The catalyst is not yet clear, I’m calling around for clues…
EUR/USD is up at 1.2690 and EUR/JPY has recovered to 116-ish…
Obama just appeared on TV and said he has spoken with Merkel and they agreed on the need for a strong policy response for countries effected by the debt crisis.