The euro could reach as high as $1.33, but may struggle to gain beyond that level as Europe's poor economic fundamentals weigh on the currency, says Vassili Serebriakov at Wells Fargo. The currency's gains over the past two days have more to do with investors continuing to pull off short bets in the wake of the FOMC's bond-buying decision than putting on new longs, which will limit its ability to gain much further, he says. "It still appears that market participants are bearish over the medium to long term," he said. Euro up more than 1.33% on day at $1.3160.
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