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USD Trading Outlook (07-10-2013)

Australian markets are closed today and with China also still closed, we can expect a quiet day. Friday was most notable for adjustments in the crosses with the heavily over-bought GBP market finally starting to retrace whilst the Yen and commodity currencies made some decent gains. The US budget impasse is likely to be resolved in coming days with the debt-ceiling needing to be raised by October 17th, otherwise they could start defaulting on some debt obligations.

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