EUR/USD Euro/Dollar Explodes Higher

The euro rocket launches overnight hitting 1.3675, a phenomenal currency move. In the global race to debase, the euro is left at the altar. The higher euro drives equities higher and overnight futures are up. The U.S. and Japan cannot destroy their currency fast enough, the dollar/yen is catapulting thru 92 now (weaker yen sends the dollar/yen pair higher), while Europe stands by watching. The funny thing is that Europe needs growth more than any other area of the globe and the higher euro will only serve to hurt the manufacturers and exporters further. Draghi, head of the ECB, did not even mention the possibility of a rate cut in the January meeting but he may have to change his tune quickly. The ECB meets on Thursday, next week, 2/7/13, which will be a key event. Q1 2013 is shaping up to be a turning point in economic and trading history. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.