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Daily Archives: July 3rd, 2013

The USD isn’t waiting for the nonfarm payroll numbers this friday, it has already staged a move against the majors.

USD moved against the EUR at 1am, dropped by 89bps.

USD moved against the GBP at 7:15pm, dropped 75bps.

USD  moved against the JPY at 8:30pm, dropped by 89bps

USD moved against the AUD at 6;45pm, dropped by 29bps

So, it appears that the AUD has been the most resilient against the onslaught of the USD.  Maybe the market if waiting for Governor Steven’s speech later this morning to get a confirmation of the RBA statement published earlier yesterday.  You will recall; RBA held rates at 2.75%, felt that the drop in the AUD is helping the economy, feels that the economy is continuing to adjust to a different business model and less reliant on mining and resources, felt that housing is holding steady, felt that borrowing is coming back, and felt that there could be more room for currency to weaken which would help the economy