The market is looking to end the week on exactly the opposite note to which it started.
Monday and Tuesday were all about sovereign downgrades. Today is about hope that the crisis can be contained. Greece has agreed to some austerity measures in exchange for support, and naturally the beaten-down euro is off to the races.
Obviously if order really is at hand, the currency has a lot of room to snapback, but again, we’ve seen this movie a million times before.
Euro chart from Finviz:
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