Whilst the central bankers may not like the volatility much, the traders certainly do. With the exception of USD/JPY, all of the major pairings have been giving traders multiple opportunities to get on at the right level. Mr Geithner has been saying that there will be no competitive devaluation of the USD but the Fed seem to be saying something else. Perhaps they should get together!
The RBA minutes are due for release at 11:30 Sydney time and they should give some insight into the RBAs thinking. The market now thinks there is only a 33% chance of a rate hike early next month.
Good luck today.
