A September market swoon? A thing of the past. It is the dollar that has taken it on the chin as risk is back in demand. Gold started the parade early last week. AUD joined late in the week and the EUR played catch up today. 1.4500 barriers are the next hurdle for the market. A break targets the 1.4719 highs from December, when the Fed announced quantitative ease.
Traders are blaming comments from the UN (the UN!) for the pick up in negative sentiment. The toothless international body advocated for a new global currency on Monday. Talk about fishing for excuses to trade…
