Inquiring minds are looking beyond huge stock market gains to the actual “Defense of the Euro” plan. In terms of defense, at least so far, the results are less than awe-inspiring.
15 Minute Chart – Euro vs. Dollar
60 Minute Chart – Euro vs. Dollar
After blasting higher starting at 7:00 PM yesterday through 3:30 AM this morning, from a low near 1.28 to a high near 1.31, the Euro has retraced nearly all of those gains.
60 Minute Chart – US Dollar Index
OK Jean-Claude Trichet, when does the shock and awe currency intervention madness start?
Mike “Mish” Shedlock
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