Moola
My take (which served me nicely trading the EURUSD this morning on the 3 year LTRO announcement) was quite simply the initial upswing was tempered by concern as to the volume of banks applying for loans.
Practically free or not, the money has to a. be used (which the banks seem remarkably inept at doing) and b. repaid.
As long as there's any concern re. Europe I feel it will overshadow positive economic news from the US. Almost seems like the markets are just chucking tantrums to get a stronger reaction from the ECB and the Fed.
Nothing too complex and I'm sure you're well aware of it all, but I occasionally like to jot down my thoughts and at least feel like I contribute ;)
MoolaMy take (which served me nicely trading the EURUSD this...
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