Sources note North American early birds coming in selling EUR/USD, seemingly stop hunting. They succeeded without much trouble tripping stops just below 1.4770 and we’ve been to a session low of 1.4757 only to bounce back to 1.4770.
PIMCO’s Bill Gross is making some rather bearish comments about the old greenback on CNBC. Says he doesn’t sense stability in the dollar, and sees it standing a chance of moving much lower. Says dollar index is ultimately headed through it’s all-time low.
Also says dollar is “over-owned”, with Chinese owning so many. You betcha!!!
