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."
comments powered by Disqus
Related Forex Analysis
  1. AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation
    Forex News

    AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation

  2. USD/JPY bulls need to take a breath before a new attack at 110.00
    Forex News

    USD/JPY bulls need to take a breath before a new attack at 110.00

  3. Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low
    Forex News

    Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low

  4. GBP/USD nervous below 1.6200, waiting for data
    Forex News

    GBP/USD nervous below 1.6200, waiting for data

  5. Dollar’s Current Bull Leg Strongest since Rally Through Crisis
    Forex News

    Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Trading Center