The uptrend of the Euro
against the US Dollar
seems to have aborted, and the Euro
plunges towards parity with the Dollar. Causes for the change: Great Britain prepares contingency plans for leaving the EU (so what? Just the effects this story has on sentiment); The Greek government announces its intention to default on IMF payments (hardly unexpected); European Central Bank
announces intention to double its Quantitative Easing (clever damper on the surge of the Euro
); but, more importantly, better economic figures from USA and FED hints that its interest rates may increase as early as September 2015. Blocks on EUR/USD
journey towards parity occur about now ($1.085), and, again, around $1.05.