EUR/USD Punching out a fresh high for the day as backdrop of positive US stocks allows the earlier negative risk sentiment to reverse, this pair now squeezing any remaining shorts set in anticipation that euro would dip under $1.2900.

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11 May 2012

EUR/USD Punching out a fresh high for the day as backdrop of positive US stocks allows the earlier negative risk sentiment to reverse, this pair now squeezing any remaining shorts set in anticipation that euro would dip under $1.2900.

Flows muted, offers at $1.2960/80 ensuring no runaway gains just yet. Last $1.2952.

U.S. stocks moved into positive territory: Dow 12,901 +46 +0.36%, Nasdaq 2,954 +21 +0.70%, S&P 500 1,363 +5 +0.39%

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