It was another record breaking week with EUR/USD scoring new record high of 1.5687. More importantly, violent moves in the market pushed some pairs through important long term levels. USD/CHF took out parity for the first time in life. USD/JPY broke 100 psychological for the first time since 1995. GBP/JPY also broke 200 psychological level. Fed's new Term Securities Lending Facility might have triggered a strong rebound in the stock markets, but provided non sustainable impact in the forex markets. Bearish sentiments in dollar and more noticeably, bullish sentiments in the yen indeed further intensified before the week closed after bail out of Bear Stearns as credit market losses widened.
http://www.actionforex.com/action-insight/market-overview/weekly-review-and-outlook%3a-another-record-week-for-dollar,-no-sign-of-bottom-yet-2008031538812/
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