German Finance minister Steinbrueck says that German GDP will fall between 5 and 6% this year. How does the market celebrate? By taking out the 1.45 barrier and trading up to 1.4505!
Now that the market has collected two very large scalps (1.4450 and 1.45), it would not be a surprise to see prices take a breather.
Traders report solid bids in USD/JPY in the 92.00 area but stops all the way down, if broken. They are particularly large below 91.70 and 91.50. We trade now at 92.10.
