Flash: Majors bleeding - OCBC

FXstreet.com (London) - Emmanuel Ng strategist for OCBC said that the majors continue to bleed against the dollar in the wake of the FOMC.

Although he said some degree of stabilization managed to emerge by the end of the NY session yesterday. Going ahead, he explains that US data points are expected to assume greater significance as investors watch for every quiver and twitch out of the US economy. He noted that existing home sales and Philly Fed numbers surprised to the upside, while weekly initial claims came in higher than expected.