A little short on the euro on the taper headline
The Bloomberg headline said "ECB said to be near consensus on need to taper QE before it ends".
Traders have put two and two together and thought that means they will taper before extending. I read it differently and "before it ends" doesn't change a thing as far as when that might happen.
Short EURGBP at 0.8792 and EURUSD at 1.1210. My stop will be above 1.1240 in EURUSD and 0.8825 in EURGBP.
