The curtain is coming down on the month of June, the second quarter and the first half of 2014. And with the summer heat in the northern hemisphere, the US dollar is melting down.
EUR/USD is above the pre-ECB highs and GBP/USD is at a new multi-year high. Is this due to a last minute scramble which often happens at these kind of dates or is the dollar weakness here to stay?
The move comes despite a jump of 6.1% in US pending home sales, well above expectations. The Chicago PMI came out below expectations, but was not too bad.
Here is EUR/USD at the highest since May 22nd:
More: Half-Way Point of 2014: Steady Melt-Up Prevails
And here is GBP/USD, braking above the previous 1.7063 high seen a few weeks ago – the previous high was already the highest since 2008.
More pound: GBP/USD Continues Upside Push
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