No surprises from Bernanke (recovery underway, but slow) and a big upside surprise in US existing home sales have combined to send the dollar to new lows. US share prices have broken out to the topside, up to 1022 on the S&P while oil is approaching $74.50.
Risk is on, once again. 1.4413 is next resistance ahead of the key 1.4445/50 level. We trade now at 1.4343 after a rise to 1.4375.
USD/JPY got a solid boost from rising US yields which were boosted by the home sales data. 10- year notes are now at 3.49% from 3.44% before the figures. USD/JPY is running into exporter sales on the approach of 94.10. More are seen toward 94.50.
