The Euro spent most of the day on he defensive, declining to a low of 1.2398 few hours before the London close. Then at 10 AM EST, a major anti-USD rally started. The unexplained move was consistent across other asset classes, with stock markets and Gold gaining while Dollar denominated currency pairs got sold. Two stories have come out about the reasons behind the sudden Dollar reversal. Take your pick story one or story two.

I managed to exit my USD/DKK long at a small profit of 11 pips. I tightened the stoploss on my Euro short at just above 1.2500 and it got taken out (with slippage of 3 pips). Then a massive rally took the EUR/USD pair to a high of 1.2543. Overall happy that I managed to keep my losses at a minimum in such an unpredictable environment but frustrated to see the directionless market coming back. I miss October.
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