French official says Obama said strong dollar is a problem
News just on the wires and explains the sudden sell- off just now
Bloomberg reporting comments from an unnamed French official
Just shows how fragile this market is
I reckon we all know that USD strength is a problem. What we need to know is the story behind the headline. Does it mean the Fed will wait even longer to hike rates? Is he officially now a public mouthpiece for the Fed? Is the timing deliberate in the wake of strong NFPs and the $ back in popular demand?
Either way the market has been wrong-footed now hence the sharp reversal
EURUSD has now posted highs of 1.1170, GBPUSD 1.5306, USDJPY down to 124.98 but bids back in
EURGBP stalling at 0.7300 EURCHF on highs of 1.0475
How you liking your Monday so far?