And the dollar shows exactly what it thinks about Mnuchin

USDJPY busts through 113.00

It looks like we've had a case of the dollar sitting around all day waiting for the Mnuchin and now he's delivered naff all, the buck isn't happy.

USDJPY H4 chart

112.80 is where we'll find support initially (low so far 112.84), then 112.70/75 and the 17th Feb low, ahead of the 112.50 level.

If this is just a routine bit of news disappointment then we should hop back above 113.00. If we see it resist then we could head lower...or boringly sit between 112.80 and 113.00.