Flash: Fed triggers USD outflows - UBS

By FXstreet.com | September 23, 2013 AAA
FXstreet.com (Barcelona) - UBS Strategist Gareth Berry informs, on a research note sent to clients, the latest USD outflows, following the Fed decision no to taper in September.

Key Quotes

"We registered the strongest one-day buying of EURUSD in three months of trading. Elsewhere, yen turnover sank back to subdued levels, sapping the momentum of the latest USDJPY upswing."

"The Singapore dollar attracted the greatest inflows over our books as stresses in neighbouring EM economies subsided on falling US yields. There was only modest respite for BRL though, and our clients remain wary of TRY too despite the latest diplomatic efforts in Syria."

"Dollar turnover over the week as a whole was nothing spectacular, but what stood out was the intensity of dollar selling from the leveraged community post-FOMC. The lack of reaction from other client segments suggests positioning there was very light going into the announcement, and is symptomatic of a lack of conviction more generally."
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