Forex Flash: Fiscal cliff action provides cautionary tale – Westpac

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FXstreet.com (Barcelona) - There should not be any tradeable news around progress on fiscal cliff negotiations this week - the lame duck Congress is in recess this week and President Obama is overseas. Beyond that, the positive conciliatory rhetoric could easily come unstuck. The conservative wing of the Republican party - the key to passing a deal through the House - will be chastened by the election but they would still seem to be a significant obstacle.

The early indications are that their mood to compromise seems lukewarm. "However, given our feelings and implications of inaction surrounding the US fiscal cliff and Greek risks, we remain comfortable fading strength in risk assets." writes the Westpac Strategy team.



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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