Daily Forex Commentary for May 28, 2009

May 28th, 2009 • Related • Filed Under




May 28, 2009

Bullish Euro Investors Exposed to Downside Risks

The EUR USD was under pressure from the start on Wednesday. Tuesday’s loss following bullish news regarding a better than expected U.S. Consumer Confidence Report should have been the first clue that investor sentiment toward a stronger Euro was shifting.

Investors are now selling the EUR USD as they strip out the fear premium that was the catalyst for the recent run-up in the Euro and the sell-off in the U.S. Dollar. Last week traders bought the Euro as fear was …
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