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The euro high on Monday was 1.0631 and Tueday , the high was 1.0630—rounding off that stupid 5th decimal place. This is a failure to match -and-surpass and sure enough, the Dudley remark and ensuing rise in yields and Fed funds probabilities turned the market against the euro. It has now retraced more than 62% of the rise off the Feb 22 low at 1.0492 and may be testing the downside next.
Happy Trading!..
Happy Trading!..