USD Trading Outlook (28-11-2013)
There were more woes for the beleaguered AUD overnight and it suffered more heavy losses especially against the GBP. We are seeing some very big real-money funds continue to adjust their weightings and further moves in the crosses will only lead to more selling. Option players have also been to the fore and this is the way trends develop in the FX market, when selling begets more selling. It’s Thanksgiving today in the US, traditionally a quiet day on all global markets. Japanese retail trade is the only economic data of note.
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