We had a stronger-than-expected industrial production number from Germany, which is giving underlying support to the euro, and the third factor is the weakness in the equity market,
More Quotes from Mike Malpede:
It seems as though the whole dynamic is based on safe-haven flows. It starts to give pause to what's going on there. It brings the news closer to home.Mike Malpede
He's back-tracking his past statement and he's trying to clarify through the media, which makes him look a little bit less credible. If you have a Federal Reserve board chairman that looks less credible, that could be considered dollar negative.
Mike Malpede
Trade is pretty random right now. We are just groping. Were it not for the situation in the Capital Building the dollar might not have been off at all.
Mike Malpede
The yield differential is going to limit any real upside for the euro right now.
Mike Malpede
We are still focused mainly on the potential that the Bank of Japan has decided to officially end its intervention. This is helping to boost the yen,
Mike Malpede
Iran may be moving out of European banks, but no one knows where Iran will move its money and no one knows the size of Iran's reserves. So you can't really make an intelligent trade on the news.
Mike Malpede
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