EUR/USD (a 4-hour chart)
Against the background of yesterday's court hearing in the Constitutional Court of Germany on the legitimacy of transactions OMT ECB has accelerated the growth of bond yields of all European countries, including England, the euro was growing and stock markets fell.
The French air traffic controllers strike began the day before yesterday. Today their colleagues from Austria, Italy, Portugal, Spain, the UK and other European countries can join them. The goal of the strike is a protest against the liberalization of civil aviation and the introduction of a single control system. In major European cities canceled from 30 to 70 percent of flights.
Pessimism intensified rumors that the Fed has at its next meeting on the 19th will reduce the volume of QE3. Direct correlation between the growth of the euro against the yields of bonds and back to the fall of the stock market has lasted for 10 days, and we think that the reasons for its normalization, ie fall of the euro, it has accumulated enough.