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Bearish Reversal In the US Dollar, More Weakness To Come?
The month of November can now be stared from the rare mirror. It was a month that saw the New Zealand, the Pound and the US Dollar as the indisputable outperformers, with the latter displaying a steady bid tone since half way through the month, while the former saw more volatile moves, especially the Pound as poll sentiment ruled. The clear underperformer by the end of a rather lethargic month in the overall G8 FX volatility picture was the Aussie as disappointing domestic data combined with a more dovish stance by the RBA in its minutes + RBA Lowe speech did the rest to keep the sell-side pressure unabated. The ... (full story)
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