The traders are keeping a close eye on the euro , which surged to a three week high against the dollar.
Gains were largely tethered to reports that Germany had softened its stance on austerity for Greece, making a fresh bailout for the debt-laden nation that much more likely .
So, is the euro a buy here or should you fade the strength? Find out from Andy Busch of BMO Capital. Watch the video now!
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Trader disclosure: On May 31, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns (XOM); Terranova owns (KSS); Terranova owns (CVI); Terranova owns (OXY); Terranova owns (TM); Terranova owns (BJ); Terranova owns (DIS); Terranova owns (PFE); Terranova owns (V); Terranova owns (HPQ); Terranova owns (FLX); Terranova owns (JPM); Terranova owns (MCD); Terranova owns (PEP); Terranova owns (VRTS); Terranova is short (DELL); Adami owns (AGU); Adami owns (C); Adami owns (INTC); Adami owns (GS); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU); Finerman and Finerman's Firm own (AAPL); Finerman's Firm owns (DIS); Finerman 's Firm owns (JPM) leaps and (JPM); Finerman owns (JPM); Finerman's Firm is short (IWM); Finerman's Firm is short (MDY); Finerman's Firm is short (SPY); Finerman's Firm owns S&P 500 Calls; Finerman's Firm owns S&P 500 Puts; Finerman's Firm owns Russell 2000 Puts
For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
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