1.50 dollars per euro: Who’s counting?

What’s so special about numbers like 1.50, 2, 4 or 100? Nothing, for robots. And not much for chart-readers, who find trends confirmed or broken at all sorts of peculiar points. But for most investors, such easily remembered figures serve as signposts. Some signs are easy to read. The message of the euro at $1.50, just above the current level, is like that of the pound at a round $2, a level crossed in April: the dollar is in serious trouble. To use a disgruntled trader’s phrase - describing the...