The S&P 500 pulled back in a round of profit taking after initially failing to break yesterday’s high but the FX market isn’t having any doubts. EUR/USD is at the highest in a year, up 78 pips to 1.1190.

It’s not just the euro either as the US dollar falls to the lows of the day across the board.

This article was written by Adam Button at www.forexlive.com.