Euro's Jump To Its Highest Level Since May 15

Euro's jump to its highest level since May 15 reflects a market that's getting more bullish on the single currency, not just less bearish, says Alan Ruskin at Deutsche Bank. "There is some longer term money behind this," with investors building up new long positions rather than just covering shorts, he said. "People are slowing coming around to the view that the ECB's actions in terms of balance sheet expansion is pathbreaking, and a real landmark event." US dollar's drop against the yen, on the other hand, is more a case of stop-losses, Ruskin says. Euro was at $1.2822, from $1.2759 late Monday, according to EBS via CQG. The dollar at Y77.84, down from Y79.28.

Euro's Jump To Its Highest Level Since May 15

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