USD Trading Outlook (30-06-2014)
AUD/USD The sideways trade in AUDUSD continued as global rates receded further in the wake of the miss in Japanese Household Spending pushed JGB yields to one-year lows. The AUD and other carry currencies remain locked between the benefits of lower rates, yet still wary that equity markets may be topping out. AUD bears seem willing to continue leaning against the April 10 highs at .9460 ahead of next Tuesday’s RBA. Carry strategies continue to win out by default as vol stays low and ranges across asset classes are constrained in typical summertime trading.
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