Mr. Market poarties all night and into late morning but now he seems pretty tired.
EUR/USD and AUD/USD are taking the brunt of the profit-taking late in the New York morning.
Makes sense, as this fiscal cliff deal is a lot less than meets the eye. All taxes and no spending cuts (plus new spending!) ain’t a recipe for fiscal rectitude…
Stops below 1.3230 are being tripped as we write. 1.3140/50 is key support if the selling intensifies.
