NY appears to have the bit between the teeth with early players trying pick up from where they left off on Friday buying EUR/USD, GBP/USD and AUD/USD in early trades. For the most part of the Asian and European sessions it has been a consolidation type move with a few weak longs squeezed. The low in the Euro on the Anglo Irish downgrade was a bit of a joke given the debt they were talking about was just about worthless anyway.
EUR/USD is back in the mid 1.3470s whilst AUD/USD has reclaimed 96 cents. GBP/USD has just posted fresh highs for the day just at 1.5853 before peeling lower once more but all up early positioning suggests NY wants to continue the weak US Dollar trend.
