After reports of resting bids in the 1.4350 region overnight, EUR/USD staged a nice bounce of over a cent. Now that we’ve retraced the whole thing, stops below 1.4350 are looking vulnerable.
USD/JPY has knocked-out the 92.00 barrier and trades now at 92.00.
UPDATE: The EUR stops have been triggered with prices blipping as low as 1.4343 before a bounce.
Dollar strength has turned commodities lower. Oil has reversed early gains and trades now at $78.13, down 1.30 from earlier highs. Gold is back to $1097 from $1108 earlier today.
