EUR/USD: Taking Stock after Reaching 1.3608

EUR/USD is consolidating gains around 1.3600 after reaching highs around 1.3608 after breaking free of its shackles at 1.3565. Dealers note a variety of names being blamed for the topside breakout, with one a well-known hedge fund, another a sovereign account that has recently been helping keep the EUR bottled up in ranges and a third a UK clearing bank. Anyone or all could have been involved. Dealers see a quiet afternoon below the recent peaks in the 1.3615/25 area. 1.3565 is support on pullbacks.