Currencies Go Berserk As Bernanke Kills King Dollar

by Joe Oliver, Forex Trading-Pips

Violent moves in the currency markets over the past 24 hours are helping fuel powerful gains in our volatility breakout signals this week as most forex traders are caught off-guard and losing money following Bernanke’s comments.

We are currently showing the following open profits in our Weekly VBO Signals


From Zerohedge:

We noted earlier the brief chaos that the minutes created but – following Bernanke’s promise to print moar – the after-hours collapse in the USD against every major (and minor) currency pair in the world is tremendous. USDJPY is over 200 pips off the day’s highs (JPY surging below 98.50), GBPUSD is getting smashed higher (+275 pips from pre-close), and EURUSD is screaming higher (up 220 pips from the US close breaking above 1.3200). Retaliation for Carney and Draghi’s comments? Who knows… but the currency wars are back on (and the ‘other’ currency is surging to $1290 per ounce).




and a little context…


For those who want a comp of the magnitude for the EURUSD’s nearly 300 pip move so far, the EURUSD moved just a little more, or 370 pips, on March 18, 2009, when the Fed announced QE1!



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