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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on Jul 17, 2013 11:01:00 PM
A subdued Asian session as the markets digest the FED chairman's testimony on Capitol Hill yesterday. The US Dollar is moderately stronger -vs- its major peers. As expected, there was a fair amount of volatility as Bernanke's testimony generated wild swings, but once the dust settled the US Dollar was largely unchanged -vs- the majors. Essentially Bernanke combined the salient points of his June 19 and July 10 remarks which had the effect, probably intended, of confusing rather than clarifying the FED's position on the question of tapering.

Ranges:

071813

 

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