All of a sudden and before the release of the ISM Non-Manufacturing PMI, the US dollar tumbled lower, with significant moves in many currencies.
EUR/USD jumped 50 pips to 1.1230, GBP/USD finally recovered above 1.53, USD/JPY slips from the highs.
Update: after the initial rush, the dollar is recovering and EUR/USD is back down to 1.12. In any case, for euro/dollar, the double top of 1.1190 was broken.
Update 2: the final services PMI from Markit came out at 56.2 points, a small downgrade from 56.4 initially reported.
Update 3: the move extends south with a miss on ISM Non-Manufacturing PMI.
The moves are less pronounced against commodity currencies with the Canadian dollar seeming to stay behind, and so are the Aussie and the kiwi to a lesser extent.
Earlier, the ECB tried not to rock the boat by leaving policy and expectations unchanged. ADP Non-Farm Payrolls came out as expected. Is optimism about Greece pushing the dollar down?
Here is how it looks on the EUR/USD chart:
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