It's the euro's turn to take a hit as it's slammed down to the 200 wma at 1.3420.
EUR/USD Weekly chart 29 07 2014
By and large there's not been much of reaction in the other dollar majors to USD/JPY strength over the last few months, with maybe the exception of AUD/USD. Even good data has failed to spark a sustained rally at all. The yen crosses have borne the brunt of dollar strength in the majors but we're seeing that change now with broad dollar buying across the board.
It's a timely reminder how the buck can trample all when the buyers really want to bet on America. The jury is still out on whether this is anything more than a pre-FOMC run up on expectations, or something more sustained. At the moment it's looking like it should not be messed with but I wouldn't go chasing it.
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