What we're seeing today is a very long-term trend asserting itself - people abandoning the euro and buying the U.S. economic miracle, ... OPEC's decision is not helping the euro much today either
Expectations for euro zone growth have been so depressed, it's not taking an awful lot to deliver an upside surprise. Markets have adapted to the very strong growth backdrop in the U.S.
The market is building in a risk premium because of the uncertainty surrounding the election -- once we get that out of the way, all other things being equal, the euro will probably bounce.