The strong bearish move in the euro initiated in mid-2014 has placed the currency back to the 61.8% Fibonacci move that began in 2000 and the lows of $1.10 are considered an important short- and medium-term support.
One of the biggest casualties of the ongoing global low interest rate environment has been the carry trade, where traders sell a currency with a low interest rate and use the proceeds to buy a currency with a high interest rate. As we know, “high” interest yields have been hard to come by of late, limiting the appeal of carry trades the world over.
So much stuff, so little time. If there is anything good that came from all the distress in the world, Janet Yellen came to the conclusion the Fed can be patient when it comes to raising interest rates.