ForexLive US Wrap: Mubarak ends the suspense

US trade deficit widens to $40.6 bln in December from $38.3 in November University of Michigan consumer sentiment rises to a preliminary 75.1 in February from 74.2 Final in January Philly Fed survey of professional forecasters sees brighter growth prospects for US Egyptian president Mubarak resigns, hands over power to military tribunal Axel Weber resigns as Bundesbank president effective April 30; successor to be announced by Merkel next week EU/IMF approve EUR 15 bln aid tranche to Greece Greece to extend EUR 30 bln in loan guarantees to Greek banks in an effort to cut reliance on ECB funding: Bloomberg US 10-yr yield falls 6.5 bp to 3.635% S&P 500 rises 0.6%, closes at 30 month high Oil falls $1.30 after Mubarak stands down EUR/USD had one basic mission today: Trigger a barrier at 1.3500. It took six attempts but it finally succeeded at early afternoon, falling to 1.3497. It spent no time down there and rebounded late to 1.3560 before edging down to end the at 1.3546. USD/JPY added to recent gains,  rising to 83.68 in early New York trade. Hedge funds were solid buyers early in the day. It dipped briefly to 83.31 as yields fell sharply for a time after the Mubarak news. We end at 83.43. USD/CHF and EUR/CHF rallied sharply after the Mubarak news. EUR/CHF tested resistance at 1.3205. USD/CHF reached 0.9775, a bit shy of 0.9785 resistance. It lost momentum in the afternoon and ends at 0.9732. AUD/USD regained some lost ground after the RBA comments overnight. Citi put out a buy recommendation at 0.9985 with a take profit at 1.0060/65 and a stop loss below 0.9960. A quick punt. The Dollar index broke major resistance 78.35 and rallied as far 78.69. It closes  at 78.425 after holding and bouncing from what is now key support at 78.35.