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Aussie and stocks weighed down by fear of Taper
The Australian dollar is under pressure this morning after the risk off theme of the last two days trade of the week and after the market misinterpreted I reckon comments from St Louis Fed President James Bullard that the decision by the FOMC last week was a “close decision” and that “October is a live meeting”. Bullard is a bull at the moment when it comes to the Fed’s QE program and correctly, in my view, believes it is the flow of QE not the stock of QE that is the primary driver of the impact on the US economy. That means he wants to keep up the bond buying. The market is the market but for mine Bullard ... (full story)