USD Trading Outlook (21-11-2013)
The USD has enjoyed a modest rally after the Fed minutes suggested that tapering could start in the next few meetings. The language was not very convincing and I wouldn’t be basing any long-term trades off this event. Of much more relevance today will be the HSBC China manufacturing PMI and the BOJ rate decision. Any unexpected developments will lead to volatility in the AUD and JPY crosses.
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