Has anyone noticed the incredible run of the dollar in the last four hours? From 02:30 to 06:30 EST:
USD/JPY: +100 pips
USD/CHF: +80 pips
AUD/USD: -80 pips
USD/CAD: +80 pips
I rounded the gains to +/- 10 pips, but you get the idea. The only currency still holding its ground against usd is gbp. It baffles me that I do not comprehend the forces behind such strong moves. Has the market simply gotten tired of selling the dollar and decided to buy some, for a change? I look at the same economic calendar just like everyone else but there seems be no obvious explanation for this rally - what am I missing?
USD/JPY: +100 pips
USD/CHF: +80 pips
AUD/USD: -80 pips
USD/CAD: +80 pips
I rounded the gains to +/- 10 pips, but you get the idea. The only currency still holding its ground against usd is gbp. It baffles me that I do not comprehend the forces behind such strong moves. Has the market simply gotten tired of selling the dollar and decided to buy some, for a change? I look at the same economic calendar just like everyone else but there seems be no obvious explanation for this rally - what am I missing?