Let the games begin! This week should be an important week in FX-land. Schools are open, Daddy and Mum at back at their trading desks, not happy campers either of them. Historically, the week after Labor Day has always been an important week for the currency market. Looking back, one would have noticed more often than not, it tends to produce the trend for the last trading Q! We will get to answer the question, will be USD be a hit or a bust?
The US$ is weaker in the O/N trading session. Currently it is lower against 16 of the 16 most actively traded currencies in a ‘whippy’ trading range to start the shortened week.
After peeking at last nights trading ranges, the greenback is acting like a ‘deer caught in the headlights’! It does not take a genius to conclude that the current environment bodes ill for the ‘once mighty reserve currency’. The ‘yellow metal’ has the stamina of Usain Bolt! US FI yields are so low, it’s difficult to comprehend what they mean or why do they...
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