For the past month the US dollar was like a patient in the emergency room having a heart attack.
The economic data was like a series of electrical shocks trying to restart the heartbeat. NFP, ADP, vehicle sales, housing starts, the Markit PMI gave it a few beats but it’s flatlining again and the doctors are out of ideas.
The Fed is the only hope and the chance of a hawkish statement from Yellen is about as likely as zombies walking the earth..
USD/JPY is at the lows at 101.52, EUR/USD is at 1.3609 and AUD/USD is back above 0.9400.
