This statement out of the G7 appears to be very much as Illiquid has stated . . . After a gap down in Euro-FX, the dollar appears to have come under pressure again over in Australia. FYI: Greenspan appears on the 11th for the semi-annual Humphrey-Hawkins Testimony.
in spot USD / EUR overnight pre futures is 125.63 which is approx 125.5 in futures on a spike down move ... spot is higher now 126.35
up since globex open 126.65 now .... will be interesting if overnight Asia and europe are able to bring spot back to fridays pre G7 levels
They will try and might even bring it back up to the Friday closing levels, but the gap open lower is significant. The month of Jan gave us what might be a reversal to the downside. Next trading sessions will tell us for sure. For the moment, I really like the short side.
is sort of fishy .... 126 seems to be where it held after the spike down in spot and after globex opened the 126.25 figure spot looks about right for a low