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Forex Flash: Waiting for better levels to short the USD advisable - Westpac

By FXstreet.com,  December 13, 2012, 10:09:00 PM EDT

FXstreet.com (Barcelona) - After the short-lived bonce in both AUD/USD and EUR/USD following confirmation of the Fed's balance sheet expansion aka QE4 on Wednesday, Sean Callow, Westpac FX strategist, reminds us that the Fed QE2 (3 Nov 2010) and QE3 (13 Sep 2012), "was typically to 'sell the fact', with the spot peak soon after the formal announcement."

Mr. Callow expands: "Unrelated factors can easily come into play and may do so again this month (US fiscal policy an obvious candidate), but the chart does at least suggest that those expecting broad USD weakness (including ourselves in Q1 13) might be advised to wait for better levels..."




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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