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EUR/USD back to square one?
The slide in the EUR/USD yesterday evening saw it fall back from an earlier session high at 1.1095. The low seen after the Trump climb down on tariffs was set 1.0915. Make no mistake this was a climb down too and once forced upon the US president, due to the threats he created to the US economy from his prior decisions. Of course he will not spin it that way, but that is what it is. Well, despite the jump back in the US currency last night it has weakened today, as noted in the earlier update looking at the USD/JPY. Also to note in respect of both pairs, we saw no fresh ground broken yesterday evening despite the size of the rebounds in the dollar. So, in terms of the noted, wider EUR/USD range (1.07-1.1214) nothing has materially changed yet this morning, but 1.10 has certainly capped the rebound. The range seen has been covered by 1.0943 to 1.0996. The EUR/USD is right now at 1.0970
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