EUR/USD: Bullish Break Or Jitters?

Outside factors negatively affected the Dollar yesterday, as the EUR/USD surged past 1.2100, with traders worried about the U.S. current account deficit. Their concerns about a worsening deficit came in response to comments by the governor of the UAE's central bank, who expressed his intent to reallocate a portion of their reserves to Euros (from 2% to 10%). In and of itself, the numbers are unlikely to affect matters, however, if other banks follow suit, the situation could become more problematic. Read More....