US dollar rips on upbeat housing starts .
Housing starts beat estimates and the US dollar jumped 25-50 pips, right across the board.
The market really, truly, deeply wants to get behind the idea of a strong US dollar and US economy. On that front, Q1 economic data was a disaster and so far Q2 has stumbled but the San Francisco Fed found a new culprit yesterday. No more weather, no more port strike. Now it's residual seasonality that skewed the numbers.
The numbers will eventually tell the whole story but right now and probably for the rest of the month, all the US dollar needs to fly is a hint of good news.
It's not a flying saucer
