US dollar skids lower (we've been saying that a lot lately)

A quick wave of weakness hits the US dollar

In the past 5 minutes a wave of US dollar selling has swept over the market. There is no clear catalyst for the move but it coincided with open of the stock market.

The moves are generally in the 25-pip range with the commodity currencies and USD/JPY particularly on the move in a quick drop to 115.64 from 116.20.

Until this round of dollar selling, USD had been inching higher but it"s suddenly been erased in a flash. What"s notable is there is nothing in the bond market on stocks that would tip off a round of USD selling. That points to something dollar-specific, and to my mind, something USD/JPY specific. That trade got crowded way too quickly since the election and the bulls are suddenly jumpy.

The Asia-Pacific low of 115.19 is the main intraday support level but stops are looming below 115.00.

US dollar skids lower (we"ve been saying that a lot lately)
US dollar skids lower (we"ve been saying that a lot lately)
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