Dollar lower. Stocks higher, Yields lower. Gold higher.

The dollar has tumbled after those comments from Feds Williams.

Remember, the Fed goes dark until the July 31st meeting at the end of business tomorrow. As a result, today's comments from the vice-chairman are purposeful and are more dovish than his prior comments from July 11th.

USDJPY: USDJPY has fallen to the lowest level since June 25 and in the process is below a swing area at 107.53-557 and the 61.8% of the move up from the June 25 low at 107.617. That retracement stalled the fall earlier in the day today. A close risk level/barometer level for traders now.

Dollar lower.  Stocks higher, Yields lower.  Gold higher.

EURUSD: THe EURUSD has surged above its 100 day MA at 1.12479 and now looks toward the 100 bar MA on the 4-hour chart at 1.12731. THe 200 bar MA on the 4-hour comes in at 1.12786. The 38.2% retracement is between the two moving averages. Key target area on the topside now.

EURUSD

GBPUSD: The GBPUSD has surged above the 1.2500 level and the 38.2% of the move down from the June high at 1.2534. The 100 bar MA on the 4-hour chart below comes in at 1.2556 (last above back on July 1). A move above would look toward the July 12 high at 1.2578 and then the 50% retracement at 1.25822.

GBPUSD