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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on Aug 25, 2013 10:59:00 PM

The last week in August began with the US Dollar trading with a mixed tone against its peers due in part to the uncertainty surrounding the FED's tapering policy. Euro and Cable were slightly higher as the recent spate of solid economic data from the Eurozone and speculation that the BOE might be raising rates sooner rather than later appears to be giving a bid to these currencies. Aussie and Kiwi continue to be under pressure as both the RBA and RBNZ have repeatedly stated that they would like their currencies to depreciate a bit from their overvalued levels.

There are other issues that could, and probably will, affect the FX markets at some point such as, the state of the Euro-zone recovery, rebound in Chinese economic growth and Japan's Abenomics, but currently the focus appears to be squarely on the FED.

Ranges: {chart:WorldWideMarkets}(click to enlarge)

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