23 Jul 2013
Flash: USD weakness permeates market – NAB
FXstreet.com (New York) - The NAB Research Team analyzes the recent USD weakness permeating the markets, along with a rundown of the G3.
Key quotes
“USD softness ran rampant during yesterday’s session, with the USD/JPY still suffering a ‘sell the news' response to Japan’s Upper House elections.”
Meanwhile, “The EUR/USD supported by the aforementioned euro-peripheral spread compression, while the GBP/USD higher on stop loss buying above 1.53, and the USD in general suffering a little from the headline weakness in the home sales data.”
“This has all conspired to leave the AUD/USD as the second best performing
G10 currency of the past 24 hours, despite the fact that money market pricing for an August RBA rate cut improved to 70% from 63% over the course of yesterday’s local session.”
Key quotes
“USD softness ran rampant during yesterday’s session, with the USD/JPY still suffering a ‘sell the news' response to Japan’s Upper House elections.”
Meanwhile, “The EUR/USD supported by the aforementioned euro-peripheral spread compression, while the GBP/USD higher on stop loss buying above 1.53, and the USD in general suffering a little from the headline weakness in the home sales data.”
“This has all conspired to leave the AUD/USD as the second best performing
G10 currency of the past 24 hours, despite the fact that money market pricing for an August RBA rate cut improved to 70% from 63% over the course of yesterday’s local session.”