Cascading stops in EUR/USD, USD/JPY and other dollar pairs are contributing to a sharp slump in the US dollar.
- USD/JPY bids at 0.9950 are intact but a close below 99.90 would be a negative technical signal.
- EUR/USD touched as high as 1.2948 but hit offers at 1.2950.
Bit of a panicky move on the Minutes but it was a bit of a panicky move when Bernanke hinted the Fed might taper one day so it all washes out.