Sell the News: AUD/USD and GBP/AUD Patterns after Intervention Efforts
- Emeging market currencies back under pressure.
- Light calendar pre-FOMC likely helps contain prices.
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Higher yielding currencies and risk-correlated assets had been buoyed the past several days as hopes for increased efforts by emerging markets to calm market tensions would be announced. However, with the main catalyst of EM weakness still lingering - the Fed's QE3 taper plans - optimism has quickly faded.
--- Written by Christopher Vecchio, Currency Analyst
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