US President Obama urged the Congress to give him a “fair compromise” about cutting the deficit and raising the US debt ceiling in “the next few days.” This failed to calm down the forex markets, and the dollar plunged against all of its major rivals. At the beginning it fell versus the Japanese yen to 77.95 (from 78.23).
As of this writing, EUR/USD has just taken out the option barrier at 1.45 and reached a hig of 1.4510 so far. The extremely negative US Dollar sentiment started during the Asian forex trading session will, in most likelihood, continue into the European forex session.
