The US$ has opened softly this morning after some deescalation in the Middle East, pushing the Aussie back above 70c but as we’ve seen before this can change with one post from the President. We’re still leaning towards the bearish US$ viewpoint but we wouldn’t take trading positions until we see weakness back under 100 level.
- We can see the Greenback struggling at current levels, an eventual bullish read through for equities and in particular the miners.
MM cautiously bearish towards the US$ around the 101 level
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