USD Trading Outlook (04-06-2013)
USD/JPY broke lower on Monday night, re-taking the important psychological barrier at 100.00, and this has impacted on all USD pairs. The AUD/USD was another big mover, triggering trailing stops above .9700. It has been premature talk of an end to QE which got the USD bulls fired up but with this looking increasingly unlikely anytime soon, the dollar bulls have started to beat a hasty retreat.
Today’s big event is the RBA meeting and rate decision, and whilst it’s still unlikely that the RBA will cut rates I certainly wouldn’t discount the possibility.
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