February 26, 2010
U.S. Dollar Set to Turn Lower; Short-covering Drives Euro Higher
The Euro rallied on Friday after Bloomberg reported that Germany may buy Greek bonds. Shorts read this as a potential vote of confidence for Greece and used the news as an excuse to
cover positions. The strong rally put the EUR USD in a position to turn the main trend to up on a rally through the last main top at 1.3692.
Despite a rise in Fourth Quarter GDP, the GBP USD finished lower …
