FOMC’s Quandary

With such weak employment figures this morning, the odds of a rate increase in June just plunged.  However, that information just killed the US dollar’s rally…2016-06-03 DX 60 0618 …which, of course, killed the USDJPY.  Recall we were looking for a drop to 108.25 or even 107.79.  It’s currently on its way to 106.80.2016-06-03 USDJPY 15 0618Needless to say, CL will have to rally a lot in order to prevent stocks from giving back this week’s gains.

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