AUD/USD and GBP/AUD Breakout as Volatility Strikes
- Chinese credit concerns spillover into FX markets.
- Emerging market concerns provoking flight to safety.
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Emerging market pressure has ramped up the past few days, with currencies like the Argentinian Peso and Russian Ruble coming under pressure. As distant risk-related cousins, the commodity currencies, the Australian and New Zealand Dollars, are under significant pressure. The AUDUSD and GBPAUD trades covered earlier this week continue to evolve favorably.
--- Written by Christopher Vecchio, Currency Analyst
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