Australian dollar rocket!

Capture

Now that’s piling it on! It’s pretty clearly a technical reaction to being oversold as well as a response to Ben Bernanke’s comments today.

Comments

  1. Strange business forex, Bernanke can tell people he is going to keep QE going until he gets the desired result. People don’t belive him and after a little while commentators start saying he means he is going to taper QE and then traders believe the commentators and buy USD
    .
    Bssed on the recent past, later this week this will all be forgotten and the talk of taper will continue. Or do you think traders will listen this to what Ben says time?

    • migtronixMEMBER

      When you’re as massively levered on FX swaps as some of these guys (Deutsche looking at you) you can’t wait for the market to move you have to get in or get out before anyone else does.