IIFT Daily Note with Peter Brown

Nasty Dollar sell off

Posted by:  |  Time: 7:46 am  |  Topic:
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Yesterday we saw a severe selloff in the USD against the CHF and the Euro. Missed it here because of the bank holiday, wasn’t trading.

Today we need to establish have we corrected too far. Euro toppish at 1.3260 and supported initially at the 1.3214 resistance.

S&P slipping as we write. Pivot at 1402 has already gone. Gold getting hammered next support is 1645. So risk off first thing but expect a choppy day.

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