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Euro spikes higher after Bostic emphasizes Fed shift to the sidelines

EUR/USD climbs above 1.15

Stops were tripped in EUR/USD after the Fed’s Bostic said US interest rates could go up or down. He emphasized that the Fed should wait and see how the economy develops before doing anything.

The comments are another clear sign that the Fed is communicating a clear shift to the sidelines while it waits from some of the signals to align.

EUR/USD busted through the earlier high of 1.1475 then set off cascading stops at this week’s high of 1.1485 and 1.1500 in a rip to 1.1512.

This is the highest for the euro since New Year’s Eve. And if you ignore the spike that day in low liquidity, it’s the highest since October 21.

ForexLive

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