EUR/USD is back below the 1.2300 level as US equities spiral lower. Oil is getting hammered as well, below $69.50. Deflation fears remain high as investors fear austerity in Europe will slow growth around the world and short-circuit the global recovery. Double-dip ain’t just an ice cream cone…It’s a growing fear.
AUD is on its lows at 0.8710 and USD/CAD is back above 1.04 despite heavy real money purchases of CAD an hour or so ago.