Greenback Plunges After Fed Minutes

Greenback Plunges After Fed Minutes

On the heels of the Dec. Fed minutes (which hinted at a fairly gradual pace of rate hikes), the dollar is plunging. The greenback was lower against all of its G10 peers early on, testing a 21-day moving average against the yen and falling the most since late September against the won. Hit especially hard is the USDJPY cross. "It's macro and leveraged selling," an Asia-based FX trader said. "Stops were likely taken out as traders pared long dollar positions ahead of U.S. nonfarm payrolls data
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