The Dollar sellers took a breather today in Asia. The battered buck hovered near late NY levels after poor US data and equities sent it safely away from recent record lows. Despite solid earnings on Wall Street, poor housing starts and PPI data quashed any chance of positive gains in equities, and as stocks fell, the dollar pulled back from the abyss. The EUR/USD that spent the day flirting with 1.5000 was suddenly a big figure lower. The pair opened in Asia nearer to 1.4945, and after a quick dip to 1.4890, was just shy of opening levels by the session’s close. Full text »
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