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Pretty soon they will all start calling for 1.10 again in the EUR/USD
The dollar has found no friends since the release of the US CPI report, only enemies it seems and now the EUR/USD has reclaimed the 1.08 handle for the first time in many weeks, since the first week in September to be exact. The move through 1.0760 was the kicker for more upside and now that has extended towards 1.0825. The drop back in the USD/JPY, at the same time as the EUR/JPY extends gains to above 163 for the first time since 2008 is really getting behind this move in the EUR/USD. Actually, it is the same dynamic for the GBP/USD and the GBP/JPY too. The GBP/USD is now testing levels just above 1.2425. So, where next for the EUR/USD then? Well, I can already tell you; that there are calls for a move to reclaim the 1.10 handle and right now those calls are not falling on deaf ears it seems. The EUR/USD is just now trading at 1.0816
Market News
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Nasdaq 100 slides below 18,500
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Now risk aversion takes hold of the USD/JPY as US yields fall back again
Well, you were warned about the price action likely to be seen in the USD/JPY this afternoon and it sure is volatile and since the last update noted... -
US stocks slide further into the red- S+P 500 falls below 5,450
As just mentioned in the previous update, the US stock markets have turned sharply lower since opening this afternoon. Hence we now have a fresh...
