Growing expectations of a fresh round of monetary easing amid slowing growth in both the US and Europe have left forex traders stuck as to which currency they fancy the least this week: the dollar or the euro. That left opportunities for intraday traders as the euro bounced back from a poor start to the week.

The euro slumped against the dollar Monday as Spanish borrowing costs ploughed through the 7% barrier, despite the €100bn bailout agreed for Spanish banks.