Posted: Feb 22, 2010 5:00
The US dollar stormed back on Thursday minutes after the euro hit a three week high. The dollar was easily the best performer in US trading but CAD and JPY were tops on the day. Japanese CPI, employment and retail sales are due later. A new set of Premium trades will be issued tomorrow morning ahead of the US GDP revision and Yellen's speech after today's wild-fluctuations day, which looked rather similar to last Thursday in terms of FX swings.
The US dollar rally wasn't driven by a single clear factor but a few elements along with a dose of quarter-end led to a sharp rally.