SCOREBOARD: US coin toss

A big US dollar sell-off sent global currencies skyward, despite more data showing America's recovery is underway.

There was a fairly sizeable sell-off on the US dollar last night, especially USD-JPY which now sits at around 97.11 from 99.11. But the yen wasn’t the only big move. The euro spiked 130 pips to 1.3244, the British pound was up 175 pips to 1.5602 and even the Aussie peso managed to shake off the recession blues and  poke its head back over 0.96 (where it holds just as I write) – up about 150 pips.

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