Pretty much every since the fiscal cliff deal, the euro has been getting clobbered.
Last night, and again this morning, the currency took two sharp move downs. And these were on top of euro selloffs earlier in the day Wednesday.
It’s not totally clear what it is.
Part of it may be dollar strength (rising rates, expectations that the Fed will be on hold for a shorter period of time than assumed). But this seems to be partly just a Euro story.
Most of the data is good in Europe, and France just sold bonds at a record-low rate.