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Forex Flash: G10 currencies likely to break out vs. USD – ANZ

By FXstreet.com,  November 26, 2012, 06:05:00 AM EDT

FXstreet.com (Barcelona) - The ranges in G10 currencies are likely to break soon with the USD weaker. Recently, the USD has been propped up in years past by aggressive deleveraging flows into the Treasury market.

However, according to Richard Yetsenga, Head of Global Markets Research at ANZ, "stabilization, and even more improvement, in the global cycle is likely to see those flows slow substantially. 
Most major currencies, and in fact much of the EM universe, have been trapped in ranges over the past three months. And this has occurred despite many pairs in USD/Asia trending lower. In our view there are a number of factors, which suggest that G10 currencies are likely to join Asian currencies in appreciating against a weaker USD - range breaks are surely coming."




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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