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The Dollar Rallies, Inspired By ISM

02/01/10 by Daily Forex Snapshots  
Filed under Forex & Futures

   

G10 Advancers and Decliners vs USD CHF 0.23 EUR 0.17 JPY -0.47 GBP -0.55

The US ISM Manufacturing came out at an impressively strong 58.4 in January against forecasts for 55.5; strengthening the USD, and sending USDJPY gapping above the 90.55 pivot level to touch highs of 90.94 so far. This is a few pips above the Friday highs, and coincides with the downtrend vibration line running from the 21 Jan and 29 Jan lower highs. The encouraging data has also sent equity…

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