Intraday dollar longs are being flogged as the market swings on gyrating interest rates, proposals to rapidly shrink the US budget deficit and on a reversal to the topside in US equities helping improve risk appetites that were crimped earlier on fears of an Irish sovereign default.
EUR/USD has bounced to 1.3800 (1.3811 was the NY high this morning) and USD/JPY has slipped below the 82.20 level that contained dips earlier today.
1.3825 is key resistance near-term while 82.00 is important support.
