Eurodollar caught in range-bound tug of war
Taking long-term positions in EUR/USD over the past year has been a risky endeavour, as unpredictable and often conflicting forces in the US and Europe have prevented the pair from breaking out of certain ranges.
Following a tumultuous end to 2011, eurodollar sank to 1.26 in mid-January, but has been trading above 1.30 since late January, reaching 1.3130 by May 4 and leaving some participants surprised at the apparent resilience of the euro.
"Everyone has been sceptical about the euro, yet
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