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FLAT

FLAT

2011-09-20 14:27:00
Christopher Vecchio, CFA, Sr. Currency Strategist
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With markets positioned for further easing by the Federal Reserve, I choose to remain on the sidelines for now until some definitive direction is given. While my medium- and long-term bias is for risk-aversion and thus favoring lower yielding currencies (GBP, JPY, USD) over higher yielding currencies (AUD, NZD, EUR), my short-term bias is flat until it is clear whether or not there will be further liquidity injections (definitively). Indeed, the intervention today has shifted my view slightly, and it could change further after tomorrow.

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