Setting expectations at reachable levels is an important political function in the White House. Having been burned by promising a peak unemployment rate of 8 pct if the stimulus was passed, the White House is now playing it conservative saying that unemployment will likely peak above 10%. The rate is seen edging up to 9.6% tomorrow.
EUR/USD dipped to 1.4335 on this latest dip and mow trades at 1.4345. US equities are down about 0.5% on the session, back below 1000 on the S&P.
