
Originally Posted by
Dr_Tran
Well, I stay away from the Forex market for now!
Sir Stevens (RBA chief) gave a scathing remark at President Obama's speech a few days ago on the debt deal.
I wouldn't be surprised that Sir Stevens intervened into the Forex market, plunging AUD/ USD 200 pips today.
Don't you notice, while traders dump US stocks today, who's selling AUD that largely, while AUD is known as a "safe heaven" currency for years now?
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In time of US economic trouble, AUD always goes up, as it did last week.
But today, right when US stocks were dumped more than any other day this year, suddenly AUD goes DOWN 200 pips!
Swiss Franc goes up 200 pips, as expected.
There must be a huge currency intervention, which I think Sir Stevens is behind it, as he already lambasted the US debt deal as making USD too low, his AUD too high and that would hurt Australian export.
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So, I don't know about you, but I stay as far away from the Forex market as possible these days!
Can't play directly against FED, RBA, ECB, etc.
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