EUR/USD has resurfaced rapidly (1.4517 after 1.4475 lows) after a deep-dive late in the European session. A nice rally in Wall Street and a rebound in commodities appear to have opened the risk spigots. With Europe closed, we won’t have Greek government debt to kick around this afternoon. Gold just rallied to a new session high at $1136.
The ground we are treading on is so well-worn there is little in the way of resistance until we get back toward session highs… Keep your seat belt fastened.