US GDP comes in as expected and the dollar rallies to beat the band. Shows you how quickly sentiment can shift.
The market was leaning toward a weak figure and is scrambling after not getting it.
The failure of EUR/USD to cleanly break 1.2325/35 resistance has prompted a pullback in that pair as traders come to fear that we may have seen our best levels for the week.
Talk continues to swirl of central bank selling into strength (I’m looking at you, SNB…)
USD/JPY has bounced nicely after GDP as odds of QE are dialed down a bit. We popped as high as 78.43 from the high 78.teens before the data.
