EUR/USD: The Squeeze is On

EUR/USD is ramping higher late in the European session as carry trades are snapped up, catching EUR shorts in a vise, or more appropriately, a bear-trap. Stops are tripping off above the 1.3510 intraday highs in Europe but offers reside in the 1.3520/25 region, dealers report. A mix of stops and offers is seen in the 1.3530/50 window. EUR/USD trades at 1.3515.