Rout in stocks hurts USD/JPY
The US dollar was initially resilient to a soft CPI reading but heavy selling in stocks erased the rebound.
So far, however, the spike low of 124.06 is holding, which matched the Aug 14 low. Below that, there is support at the Aug 12 low of 123.78.
More bids at 123.80 and 123.65.
The bigger story today is the Canadian dollar and oil.
The inventory report lit a fire under USD/CAD and it's threatening the August highs.
