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Forex Flash: Commodity currencies have priced in most good news - UBS

By FXstreet.com,  August 26, 2012, 11:16:00 PM EDT

FXstreet.com (Barcelona) - With AUDUSD unable to stay above 1.05 and USDCAD struggling below 0.99, UBS foreign exchange strategists continue to see commodity currencies in particular as having priced in all the recent good news at current levels against the US dollar, a weekend note said. "Furthermore, crosses like EURAUD are at risk of rising further if foreign central bank reserve diversification out of the euro continues to abate ahead of next month's key ECB meeting" UBS adds.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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