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Old 03-15-2008, 12:40 PM
khan khan is offline
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Join Date: Feb 2008
Posts: 121
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Actually, with G7 close, there will be fear to drag usdjpy below 100-- Thus, I can say that G7 is the catalyst for the dollar recovery even if "short-lived".

If euro continues higher, G7 will discuss this probably.

Fed wanted a weaker dollar, not a damaged dollar. The continued one-way exchange rate movement can't survive for long. Hence I booked the first tiny profit on shorts, looks like its finding bids 1.5550 for now.

But fib support should be strong near 1.55 so I will exit there and wait.
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