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USD/JPY still correcting higher ST after Durable Goods low; target 98.91?

FXstreet.com (Barcelona) – The USD/JPY absorbed the very weak Durable Goods data out of the US, stumbled initially and then rallied sharply starting at 13:00 GMT. It peaked at 18:00, however and has given back most of those gains.

Should the Dollar drop or rise? The data flow says “drop”

Weak US Durable Goods data followed last week’s bad housing data and the previous week’s bad manufacturing and sentiment data. So far, the talking heads are celebrating the fact that the FOMC may have to postpone their tapering plans. But at some point, isn’t bad news …read more