New York Session |
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Record high oil prices, stumbling US stocks, lower yields and a poor batch of employment data led to a selloff in the greenback of more than 75 pips on average against the majors in NY trading. Oil prices hit a new record by breaching the $144/bbl mark and this helped fuel the selling in stocks, with the Dow plunging 167 points in the session. US employment data ahead of tomorrow's critical NFP report were on the weak side and did not help matters for the buck. Challenger layoffs
Filed under: Technical
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