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Forex Market Update: Dollar Weak in Stop-Loss Frenzy of Selling
Thursday, 11 December 2008 05:20:35 GMT
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- Wednesday, 14 October 2009 18:31:01 GMT Crude Marks New Year High, Extends Five-Day Rally as Dow Advances Fills in for Delayed Output Numbers
- Wednesday, 14 October 2009 14:24:37 GMT Business Inventories Fall for 12th Month
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- Wednesday, 14 October 2009 11:24:58 GMT Overnight Interest Rate Update 10.14.09
- Wednesday, 14 October 2009 11:14:50 GMT European Industrial Production Rises, Adds Too Recovery Signs
- Wednesday, 14 October 2009 10:23:33 GMT Greenback Finds No Relief in Overnight Trade (Morning Slices)
- Wednesday, 14 October 2009 04:10:16 GMT UK Claimant Count Rate Holds Flat; Jobless Claims Falls to 20.8K
The USD is broadly weaker in a stop-loss frenzy of selling, led by the EUR with stops above 1.3080 and above 1.3100 and higher triggered in the surge this afternoon with a high of 1.3141 traded. Stops were triggered on Cable as well with a high of 1.4973 seen as stops above 1.4880 and 1.4960 were triggered. Stops in USD-CHF were also triggered on the move down, with dealers reporting that thin dealings exacerbated the move. No fresh news was attributed to the broad USD decline but as noted yesterday on these pages, a sense of stability is emerging with the three day bounce in the Baltic Dry Index and some recovery in Asian emerging currencies and more stable stocks.
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