The worries concerning a US government shutdown have hit home very suddenly and with the exception of USD/JPY, the greenback is having a bad day. If we were seeing a true risk-on day, then USD/CHF would also be higher as would the AUD, but this is not the case.
EUR/USD and cable have been consolidating near session highs for the last hour, which is generally a bullish sign of more to come. I’m not sure if Asia has the momentum, or if the stops are big enough, to drive the market higher before Europe comes in.
