“It’s a ping-pong game — people have been burned by reacting to individual news stories only to have them refuted, withdrawn or contradicted,” Stephen Massocca, managing director, Wedbush Morgan, said in the Reuters report. “Next week we will get something more definitive but at this point, to react to these individual whispers and news stories has been a fool’s game.”
The euro ETF rose to touch its 50-day simple moving average on Friday.
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Read the disclaimer; Tom Lydon is a board member of the funds for Rydex|SGI.
Max Chen contributed to this article.