US dollar certainly not the most popular kid in the class

The rout on the US dollar is continuing.

  • AUD/USD is throguh offers at 0.9920. More up at 0.9940/50
  • USD/JPY is testing the session lows and holding so far. More bids down to 99.35
  • EUR/USD offers extend to 1.3260. Talk of a barrier at 1.3275
  • Cable offers at 1.5386 (European high)

At least the dollar is smilin’

I think the move to sell dollars is like a steak that’s been on the BBQ for 20 minutes — overdone.

Author: Adam Button

Adam Button is the editor of ForexLive™. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes deeply in the value of knowing every tidbit of news. He has a background in journalism and was formerly the head of the markets team at the Canadian Economic Press. He is a graduate of Ryerson University and completed Level 1 of the CFA program. Adam lives in Montreal, follow him on Twitter: @FX_Button.

11 Comments

  1. looks like somebody read the FT article on Summers (Summers dismissed QE effectiveness) and is trying to flush dollar longs first..

  2. Any reason for sudden sell off can’t be japan bank story as JPY is strengthening?

  3. Same with the Summers story. Both are saying the opposite of the market.

  4. Lol. The dollar has been glansberg’d

  5. I see that in this month dollar has been driven. Look at the daily chart,the big down and up follow the two different speeches of Bernake on taper,QE,ecc. In summer speculative moves are more easy. What do you think,Adam?

  6. Do not drink more Adam. AUDUSD will break 1.xx today ;)

  7. I’m drinking more… tea. I was about to write a post, got halfway through it and then realized it was complete nonsense. Checking myself now.

  8. Cheers Buddy !!! Talking about your audusd bid in article. I wish we had 0.99 ;)

  9. The dollar is still in an uptrend in the charts.There is still extreme call option buying compared to put buying on the PowerShares DB US Dollar Index Bullish Fund .I think that the call buyers will ultimately be right.In the meanwhile the Fed Pluribus Unum crook us market marches to Ben’s drum.

  10. AUDUSD @ 99??