Dollar up, dollar back down.
The FOMC meeting minutes were good for dollar strength, then weakness, now back up.
The EURUSD fell on my chart to a low of 1.0615 and then rallied all the way back to 1.0650 area. The price is trading more toward the middle - above the prior lows for the day at 1.0622. A move below that level to solicit more selling.
The USDJPY had a similar run and it too trades near levels seen before the release. A new high was made for the day at 123.74 (on my chart at least). The pair is back down trading near 123.50 currently.
As Adam points out, the minutes say the Fed could tighten in December. That is nothing new. We are subject to the flows and what is priced in.
Looking at the USDJPY daily chart, the high reached the underside of that broken trend line outlined in an earlier post today. You had to be really quick to pick that one off.....
Stocks are trading at new session highs with the S& P up 20.79 at 2071 (+1.15%) . The Nasdaq is up 60 points or 1.21%.
