The ECB tried to "do whatever it takes" this morning by floating QE rumors (Constancio - QE is a possibility but not discussed in any detail) with the endgame being a weaker EUR (since a stronger EUR has crushed Eurozone corporate earnings). But, the Fed was having none of that, and as POMO started it dominated the ECB's "weak" kung-fu, ramping stocks and EURUSD to new highs... as we chronicled on Twitter... banging EURJPY (the all-important carry driver of all thinsg risk) to new 4-year highs).
Still think it's about fundamentals?
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EURJPY ramp 2.0. As expected
— zerohedge (@zerohedge) November 19, 2013 [9]
EURJPY HOD matching DJIA
— zerohedge (@zerohedge) November 19, 2013 [10]
EURJPY +16 pips on POMO start
— zerohedge (@zerohedge) November 19, 2013 [11]
EURJPY needs another 15 pips for green futs
— zerohedge (@zerohedge) November 19, 2013 [12]
Which all lifted EURJPY to new 4-year highs...
As EURUSD was dominated by POMO...
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