- Joined
- 17 January 2007
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Re: AUD is a short
I've gone a spec short @8869 on the chance that there could be a short covering rally in the $USD from the oversold position below 81 & the near universal 'dollar is doomed' wall of worry. Commodities retreating at the moment, & gold down 2%.
LONDON, July 25 (Reuters) - Copper prices fell more than 1 percent on Wednesday as labour dispute concerns eased, while lead and nickel slipped as the dollar strengthened. London Metal Exchange copper <MCU3> for three-months delivery was at $7,860/7,875 a tonne at 0937 GMT, down from Tuesday's close of $7,965.
Copper touched a 10-week high of $8,212 on Monday, buoyed by a weaker U.S. dollar making metals cheaper for holders of other currencies, but prices were hit as the currency bounced back. "The stronger dollar is having a knock-on effect on the base slide we are seeing," an LME trader said.
I've gone a spec short @8869 on the chance that there could be a short covering rally in the $USD from the oversold position below 81 & the near universal 'dollar is doomed' wall of worry. Commodities retreating at the moment, & gold down 2%.
LONDON, July 25 (Reuters) - Copper prices fell more than 1 percent on Wednesday as labour dispute concerns eased, while lead and nickel slipped as the dollar strengthened. London Metal Exchange copper <MCU3> for three-months delivery was at $7,860/7,875 a tonne at 0937 GMT, down from Tuesday's close of $7,965.
Copper touched a 10-week high of $8,212 on Monday, buoyed by a weaker U.S. dollar making metals cheaper for holders of other currencies, but prices were hit as the currency bounced back. "The stronger dollar is having a knock-on effect on the base slide we are seeing," an LME trader said.