Featured \Nick Nasad \ 10:52 AM EST \ August 24th, 2010
With weak data from the US worrying investors, we saw a dash towards safe haven in currency markets. The Yen hit a 15-year high against the Dollar, and a 9-year against the Yen. A very weak home sales report pressured the Dollar in NY trading, as it gave up its earlier gains against the Euro, and pared a good chunk of its gains against higher yielders like the Canadian Dollar.
DRodriguezFX: Automated trading strats never going to have the same vision as human eye. Stop on that EUR psn is 1.3152, but no major levels there. 7 minutes ago from TweetDeck
DRodriguezFX: I like the risk/reward on a short-term EURUSD position here. Stop below morning low of 1.3242, initial target of range high of 1.3285. 22 minutes ago from TweetDeck
DRodriguezFX: In short: COT data still shows an overhang in USD-long positions vs EUR, and options traders betting on/hedging against EURUSD strength. 53 minutes ago from TweetDeck
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Daily Video Recap: Fears About US & Global Recovery Send Yen Soaring
Featured \ Nick Nasad \ 10:52 AM EST \ August 24th, 2010With weak data from the US worrying investors, we saw a dash towards safe haven in currency markets. The Yen hit a 15-year high against the Dollar, and a 9-year against the Yen. A very weak home sales report pressured the Dollar in NY trading, as it gave up its earlier gains against the Euro, and pared a good chunk of its gains against higher yielders like the Canadian Dollar.
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