EUR/USD 100 pips from the lows

The big story in the foreign exchange market last week was the break out in EUR/USD.

It looked to be taking a break/retracement earlier today but the latest round of risk aversion has squeezed out euro-funded carry trades despite the beating in European bank stocks.

On the intraday chart, that traces out a nice reversal and highlights a retest of last week's highs at 1.1243.