The Euro Melts Down While the Dollar Breaks Out

Yesterday I warned that the meltdown in the $EURUSD and the resulting breakout in the US dollar ($DX_F, $UUP) could stop the equity market ($ES_F, $SPY) rally in its tracks. Today we are witnessing exactly that scenario unfold as rumors of a Greek default and turmoil within the ECB swirl throughout financial markets. All eyes remain closely trained on Europe and the world’s largest most liquid currency pair EUR/USD:

 

 

 

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