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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.