EUR/USD’s early afternoon dip held above the 1.3818 support level and we’re now toward the top of the afternoon range. Further dovish commentary from Chicago Fed president just pours fuel on an already raging inferno that surrounds the notion of the Fed buying yest another slug of the US bond market.
On the wires we have the likes of Soros and Stiglitz endorsing Japanese intervention to weaken the dollar. Stiglitz earlier took the Fed to task for doing noting to revive the US economy but creating in chaos internationally. Stiglitz, like Soros, wants more fiscal stimulus
USD/JPY trades around 83.25, a very comfortable perch based on recent price action…
