Euro seems to follow the world stock markets. No bad news is bad enough to cause a selloff.
The European Central Bank defers the taper and stimulus exit as expected from the Jackson Hole meeting. Even after the ECB decision, euro pushed higher and surpassed the 1.20 mark against the U.S. dollar.
It does look like euro has finally entered a new trading range if it will stay firmly above the 1.20 mark.