Look at the DAX and look at the EUR/USD and ask yourself a question

As reported and covered here several times over the past week and more, the direction of the DAX and the EUR/USD are very much linked at the moment. That was in clear evidence again yesterday. So, as the DAX fell back, the Euro did the same and later in the session it extended the downside move to 1.0782. However, it did later avoid a US close below the 1.08 handle. Well, only just when it closed last night at 1.0801. The other thing, also noted here was the potential outlook for US dollar demand into the month-end, but that may not have been a factor in the price action yesterday. It was more about stock rotation and gains across the US stock markets, where we had a series of lower closes here in Europe. The EUR/USD could fall further for the same reasons, but we shall have to see on that as the day unfolds. The range seen so far today has been covered by 1.0793 and 1.0809. It is currently trading at 1.0794