FXWW News

Exiting long AUD/USD play; too much uncertainty around EUR/USD

I don’t like the overnight price action in EUR/USD and I’m exiting my long AUD/USD play basically at break-even.

It seems the market was caught long of cable and AUD/USD after a big EUR/USD flow hit the market and if EUR/USD continues to tumble then AUD/USD will likely follow, albeit to a lesser degree.