New York Session - November 17, 2009 4:48 PM

Poor economic data out of the US coupled with more jawboning in favor of the US dollar elicited a lackluster day for equities and resurgence in the buck. Stock markets closed up a smidge as a late day rally helped erase sharp losses early in the session. EUR/USD remained extremely well correlated with the risk trade and the pair squeezed down from a NY session open by 1.4880/90 towards the 1.4870 zone at last look. The recovery in stocks helped the pair come off the lows just above the crucial 1.4800 support level. Full text »