Another rough day for the dollar on Thursday, resulting in major currencies moving to trend highs across the board. More disappointing U.S. data, this time in the form of weak Q4 productivity and December factory orders weighed on the USD, as did softer Treasury yields, and volatile equities. Oil prices surged over $33.50, though failed to hold, later falling to session lows near $31.50. EUR-USD topped out at 1.1239, a three month highs early in the session, and didn't stray far under 1.1200 for the remainder of the day. USD-JPY meanwhile, posted two-week lows of 116.53.
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