What did happen to EUR/USD in 2H08?

I am very curious about what did make EUR/USD to go down that much in the second half of 2008… how did the crisis made the Dollar appreciate so much against the Euro?

I’m looking at Dailyfx EUR/USD 2008 Outlook so it gaves me some clue

What’s the experience and knowledge of older members who traded 2008?

Thanks

The flight from Wall Street to cash made the dollar short on supply.

Might it simple be because it gone up too much!

EURUSD may turn up a little b/c it is grossly oversold, but I don’t think it would go over around 1.3770, which would be a good area to short from if it stalls there. Also, the Feds are going to raise rates sooner than people expect. That was lost after Bernanke said it b/c a lot of people were mesmerized by the Greece plan, which really was no plan at all, and what about Spain and Portugal? They will do some quantitative easing which is never good for a currency.