The dollar got clobbered in N.Y. trade on Tuesday, led by EUR-USD's fast rise to highs over 1.1190, after opening near 1.1000. Stop loss buying was a key driver of the euro's rally, with buyers surging in on the break of 1.1010, and again at 1.1100. The EUR-USD move spilled over to the other major dollar pairings, resulting in USD-JPY touching 123.75 lows, after making multi-year highs over 125 in Asia. Cable surged from near 1.52 to highs over 1.5365, as USD-CAD fell under 1.2370, with weight there coming from surging oil prices. WTU crude rallied over $61.50 from $60.30 lows.
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