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EUR/USD lifts off worst level and edges above 1.1150
Yesterday afternoon the EUR/USD got completely upended by the rebound above 144.70 in the USD/JPY. Earlier in the day the EUR/USD had set a new 2024 high, at 1.1214. Well, as you can see there was now extension or acceleration above 1.1202 so to speak of. The slide that followed into and after the 4pm London fix saw the Euro crumble to a low at 1.1122. It later posted a US close at 1.1133. It has managed to push a little higher so far today, as the USD/JPY steps back from above 145 earlier. Once again it seems clear; the USD/JPY remains in control of the price action overall. The latest German consumer confidence index has slightly beaten forecasts, which might help, but overall the Yen remains the driver here today. Of course, the looming month-end is also a factor, with it being spot quarter and half-year end today too. The Euro just hit a session high at 1.1152. It is currently trading at 1.1149
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