Dollar jumps again as New York manufacturing index significantly beats estimates

A short while ago the only US release out today emerged much better than the markets expected. The Empire manufacturing index was expected to report around a -4.5 reading. It actually came in at 11.5, which was way above expectations and it has been greeted by yet another rebound in the dollar. The reader was warned about the prospect of yet more swings in the USD/JPY today and this data has certainly delivered that, as the USD/JPY now rebounds back above 140.40 a moment ago. What that has also done is to ensure the EUR/USD stalls pretty much where it was earlier. The EUR/USD had lifted to a high at 1.1133 earlier. This data has helped to stall that move and send the Euro back below 1.1120. Granted we are not talking about huge moves here, but take nothing away from that US Empire index, because it was pretty good. The EUR/USD is just now trading at 1.1119