Flash: AUD/USD firm on an over reaction? - BBH

FXstreet.com (London) - Research teams at BBH noted the markets reaction to the summers news and as we head into the FOMC, what’s in store?

Key Quotes:

“We felt that the market overreacted yesterday to the Summers news, but the dollar's recovery today has been quite limited”.

“We were looking for more of an upside bias ahead of the FOMC given the dollar’s recent decline”.

“Even the Aussie, for which the market was given a new excuse to sell (RBA minutes keep door ajar to another move) is firm. As noted before, inside days being recorded so far today with the dollar simply consolidating yesterday's losses”.