Credit: Shutterstock photoWitness the tribulations of trading on a flow-heavy day
USD/JPY selling into the London fix has cut the pair down to 118.00 from 118.40 in a move that reverses the rip higher on the manufacturing and construction data.
The decline drops the pair to the worst levels in New York trading and cuts the daily rally in half.
It's part of a broader slump in the US dollar that's hit in the past 10 minutes. Selling in stocks and oil is also picking up while the gold bid returns.
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.
