As Jamie mentions below, we have been witnessing a massive unwind of risk positions over the last few days. Positions that took months to place are being taken off in minutes and those that didn’t move early are paying a price. We will probably see more of the same today. EUR/USD looks likes it set to re-test 1.30 and the AUD/USD fall is showing no signs of halting.
Good luck and TGIF.
