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EUR/USD does well off the lows and here is why
The EUR/USD has rebounded pretty well since earlier this morning, when it reached a new low on the week, at 1.0343. The rebound from that low has now seen it come close to the 1.04 handle once more. The reason for this is mainly due to a further drop back in the USD/JPY, allowing the Euro to rise. The GBP/USD is also holding its ground above the 1.25 handle for the time being too and that is helping the EUR/USD as well. However, we now have to see if this rally lasts and whether or not Euro sellers step back in again, as indeed they did yesterday. The chances of that would seem quite high right now, but the fact that the Euro did not extend below 1.0344 might have cast some doubts and caused rally sellers to hold off. We shall see. The EUR/USD is right now trading at 1.0493
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