We live in a brave, new, three hour-old world where stocks and the dollar have shown they can rally together. Stocks have failed to surmount 1120 in the S&P once again and are now slipping. Does that mean we now have to sell dollars? We’ll find out.
So far, the buck is maintaining its surge, pushing above 90.00 in USD/JPY for a minute or two and 1.4875 versus the EUR.
Traders note the approach of the 55-day moving average at the 1.4854 level in EUR/USD.
