Feb. 4 (Bloomberg) — The euro tumbled to an almost one- year low against the yen and the least versus the dollar since May on concern some European nations’ will be unable to reduce surging budget deficits.
Feb 04
On February 4, 2010, In Yen, By Forex News
Feb 04
On February 4, 2010, In Yen, By Forex News
I remain short AUD/USD since yesterday with a profit target at 85 and I expect more Australian dollar weakness going forward as risk-aversion takes over the market sentiment. This week, the Reserve Bank of Australia left its benchmark interest rate unchanged. The market had been pricing a rate hike and the RBA announcement caught many carry traders by surprise. As a result, many currency traders have been selling short AUD/USD since the rate announcement. While AUD/USD long positions are 1.7% stronger since last week, short positions are 34.3% stronger since last week, according to the FXCM SSI, which measures the positioning of thousands of retail traders. Good luck
Feb 04
On February 4, 2010, In Yen, By Forex News
