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Current Intraday Theme: Dollar & Yen Continue to Tank vs. Other Major Currencies
By Sean Hyman | March 19, 2009
AUD/USD is the top gainer on the day presently, being up 1.82% with GBP/USD and NZD/USD trailing behind it.
However, CAD/JPY leads the way on the yen crosses with AUD/JPY just behind it.
Biggest losers on the day so far: USD/CAD, USD/JPY and USD/CHF in that order.
Bottom line: Dollar still being sold across the board.
Makes you wonder if the “dollar party” is over in light of the Fed’s latest “revelation” (buying $300 billion of U.S. Long Term Treasuries).
Also, U.S. Weekly Jobless Claims came in at 646,000…slightly better than expectations but still brutal…after all, these are jobs, families and lives we’re talking about here.
BUT, once we’ve for sure seen a “spike top” in weekly jobless claims, it should be a bullish sign for the
Sean Hyman
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