Yesterday was a very bad day for the US Dollar against most currencies. There was no obvious reason for this other than the price of Gold being very strong. As a result we had a modest days trading with only two pairs trading to produce a gain of 96 pips.
The GBP Short failed to develope along with three other pairs, mainly due to the US Dollar weakness. The best performing pair was the EUR/JPY being allowed to run on once the trade started to produce 51 pips.
Not sure what is going to happen to the US Dollar today, it should retrace after yesterdays falls but this may only be a pullback rather than a solid move. Stay alert and be prepared to get out of any trade that starts to show any further weakness in the US Dollar.
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