USD Rout Continues

Posted by admin on December 18th, 2008 at 06:59am

USD Rout Continues U.S. Dollar Trading (USD) the market was relentless in its punishment of the USD yesterday pushing past 1.4000 and not stopping until resistance at the 1.4425 level. As Selling accelerates many are now calling this reversal a new trend and targeting previous levels of USD weakness. US Current Account deficit fell to 174Bn vs. 180Bn previously. The selling is technically oversold but has shown little sign of waning. Oil fell sharply as the OPEC cut under whelmed the market

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