Are you sitting down?
Euro zone finance ministers have actually made concrete progress toward solving their problems, agreeing on a framework for common bank supervision. They are also on track to provide another tranche of aid for Greece.
Withe the progress in Europe coming just one day after the Federal Reserve stepped up its stimulus efforts, currency investors have been left wondering why the obvious trade hasn't worked yet. The euro did rise on news of the agreement, but only briefly.
Todd Gordon, co-head of research and trading at Aspen Trading Group thinks he has the answer.