Trading Video: Euro, Aussie and Pound Moves Face Their Own Unique Risks
• The Greece standoff continues, but the Euro has refused to give up ground its its past two week rally
• A global equities retreat has stirred 'risk aversion' interest, but conviction is not yet universal
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Some of the most prominent technical moves that have developed in the FX market recently run astray of traditional fundamental expectation. The Euro has advanced these past weeks despite Greece's troubled financial position finding no resolution. The Pound has triggered technical levels that would suggest more prolific moves despite the approaching volatility event in Thursday's UK election. And, the Australian Dollar rallied after the RBA cut its benchmark lending rate to a record low 2.00 percent. As the saying goes, "the market can remain irrational longer than we can remain solvent." That said, price strays from reason for only so long. Meanwhile, we have another early warning sign for underlying risk trends. We these developments in today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.