I’m not really sure what the post-Bernanke slide was about, to be honest. Big Ben was dovish, as one would expect with unemployment at 9.1% and GDP muddling along around 1.0-1.5%…
I suspect there was some model fund buying of dollars at 14:00, the time when many models reset. After that was done, it was off to the races when a big custody bank spanked USD/CHF. The dead cat started to bounce and stops above 1.3215 were triggered.
Offers are seen now to the 1.3280 area.
