The greenback has found a bit of support after the CPI data but the weaker wages reading is tempering further gains for the moment
Update - USD being slapped again in a rush as I type with EURUSD posting 1.1029 after triggering stops through 1.1000
USDJPY ran into offers around 119.65 again and has returned back to 119.25
All turned even as i was writing my first two lines.
Not quite sure of the prime mover here but if this is just order/flow driven then we can kiss any real USD rally goodbye for the moment
These moves are indicating/confirming to me just how thin the markets are becoming. No real liquidity being provided by price makers as was the case in my day. More and more traders being made to sit on their hands for fear of crossing a new line in essential and non-essential trading all brought about by the forex market investigations
Right or wrong as certain practices may have been (the market has been unregulated for decades so only to be expected) be careful what you wish for in this new algo box driven market place. Feast and famine springs to mind. Thin liquidity may produce big moves but doesn't guarantee greater volumes, as was higlighted more than poignantly by the post-SNB debacle