Weekly FX roundup: Markets watch for US data releases

05 October 2010

It's been a particularly quiet start to the trading week with the USD regaining some of last week's lost ground, but not much. A key theme that emerged at the end of September was the selling of the USD against everything - there's evidence that many-a-trader is jumping onto this bandwagon. IMM data released last week showed that USD shorts reached an extreme level, while AUD, CHF and EUR longs increased dramatically. Logically there should be some relief in the near term.

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