Forex: USD pushing higher across the board

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FXstreet.com (Barcelona) - USD index is currently at 81.617 off recent session highs at 81.66, following session lows in EUR/USD at 1.3034, and AUD/USD around the 1.0470. The USD has been strengthening during Asia-Pacific session after a weak start, as soon as Tokyo markets showed sings of risk aversion selling off to session lows, now more stable losing some -0.26%, while rest of local markets trade with mixed results.

USD is strongest currency among majors for last 2 trading days, specially against EUR, GBP and CHF, while closely followed by AUD and CAD. Lower commodity prices, such as copper or oil, along with massive down fall of last 2 trading days of past week in gold, is helping USD strength, as speculation over the end of QE for 2013 starts making the rounds.

According to latest COT data, almost 5 out of every 6 commercials are holding net long USD index positions, while the other part is held by speculators, both big and small, although small specs are the ones with more even positions.



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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