Markets

Now for the selling the fact? (USD slumps)

EUR, GBP and AUD hit session highs

Money has been piling into US dollar longs. Yellen is talking up a storm in her opening statement but she doesn't sound like she wants to strike a hawkish tone.

I sense some profit taking in those fast-money US dollar longs.

Everyone is long and many were waiting for the hike to cash out. The question for the bulls is whether real money will pick up the slack in the next day or so. It's a tough call but I don't see it, not with year-end so close.

The hawk-face

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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