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Bulls are Bellowing in the US$ – Forex Trading News – Sept 3rd 2014

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Despite continued growth in the construction area of the UK economy, the Scottish Independence vote is having a real detrimental effect on the pound as momentum gathers for freedom. The bulls are bellowing in the US$, stampeding on the Fed rally to a June rate rise. Putin is largely ignored by investors with the Yen weakening as Abe looks to shift pension funds to risker assets. Glenn sits on the fence and will stay there for months to come, does mention high currency an issue, he’s been saying that for years now.

Stocks were flat at their highs whilst commodities and bonds got smoked. Funds are heading to the US interest market and the pace is picking up. This will see cash head out of emerging markets and to a large extent out of the Aussie/Kiwi carry trade too. This could be the push to get the Aussie out of its range, breaking the support at 92 cents.

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