The CRB index is breaking to a 2-year high as grain prices soar, oil catches a fresh bid and gold extends its recovery. The commodities action is helping drag up the majors that are the most exposed to those sectors like AUD and CAD. Equities are rising as well with the market expecting QE2 to set-sail at the November FOMC meeting.
AUD/USD is back above 0.9850 and USD/CAD trades at 1.0130.
