Steen JakobsenSteen Jakobsen , Chief Economist & CIO, Saxo Bank
Denmark, 12 September 2012 at 08:30 GMT+0
Recommended Recommend Unrecommend Recommend
Saxo STST - (Steen Macro) buys:
EURUSD @ 1.29005 (stop 1.2850 offered)
AUDUSD @ 1.04971 (stop 1.0450 offered=

ESM is approved with conditions - tomorow FOMC will in our opinion do "more" rather than less weaking the US Dollar, plus positioning indicate market is too long US dollar.

This is our first short US dollar since Q4 last year, and we recognize it happens on the "top" but we do feel its worth the limited down-side risk of 50 pips.

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Disclaimer

Saxo Bank provides an execution-only service. The material on this website does not contain (and should not be construed as containing) investment advice or an investment recommendation, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Saxo Bank accepts no responsibility for any use that may be made of these comments and for any consequences that result.

Please read our full disclaimers:
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