Relief for traders as volatility returns

Euro/dollar breached the psychologically important 1.30 level last Friday (November 24) as the market was taken by surprise by high volatility and high volume trading over the Thanksgiving break. The pair hit 1.3110 on heavy trading on Friday, having started the week at 1.2805.

This represents only the third period that the pair breached the 1.30 level since the euro's inception in 1999, according to Gavin Wells, global head of spot FX at Citigroup in London. He said: "It's what the market h