Pressure on China Mounts

Yesterday the World Bank came out "Urging China to abandon peg". I believe it is no longer a question of IF the peg goes but rather WHEN. Speculation is high that possible next week during Asian holiday's will be the time. I am looking at Oct 05 when the G7 meetings will be in Bejing.

Look for all Asian currencies to strengthen WHEN China moves on thier currency. Jpy,Sgd,Krw and Twd will be the biggest mover's ( Myr peg will also be under tremendous pressure).

No rate change in New Zealand last night, but very hawkish comments (rate decrease not in the near term and rate increases still a possibility in the future) gave new life to the Nzd currency. I continue to be long Nzd,Aud,Gbp against short Chf,Eur,Cad. This trade has been working out nicely.

These are the FX Trading Ideas for today.....

Good Luck to all.