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The press is filled with statements from Chinese officials about the need to redeploy 2 trillion Dollars from their reserves, rumors were floated late last week of a 10% Yaun revaluation this weekend. We should all be grateful that they are telegraphing this so we can front run this avalanche of dollar selling. Thank you China for ringing the bell now after this tremendous upside run in EURUSD. Ah, the skeptic in me says they are looking for a bid to sell into what they say they will be diversifying into. Weren’t they massive buyers in EURUSD at 118 and Eurobonds when the Euro was going ro disintegrate. They may have the intention to do this, but they are better traders than to sell USD’s into extreme pessimisim and no bids. Me thinks they are seeking bagholders and will engineer a DXY rally and Euro decline before pulling the trigger and will not preannounce “People who buy headlines today sell newspapers tomorrow”. Good hunting