USD continues to sell off

As Ben Bernanke gave his speech this morning, he states that rates in the US will stay low for a long time. Strangely, only GBP took off against the USD while EUR and AUD were both kept at bay. This shows me that rates aren't the only driver in the market. The stock market posted a positive day as well which should prompt risk thus causing the USD to fall as well, but that didn't happen. It's the end of the year and there probably aren't as many players in the foreign currency market right now. Trade lightly and don't lose faith in your technicals in the FX market.

AUDUSD

Today RBA hiked 2nd time in a row. With the Feds not looking to raise rates anytime soon, it's feasible to see AUDUSD hit parity with the USD. However, I feel that should be a area to start shorting the AUD as that's merely speculative positioning and the big money setting up the slaughter of the lamd in my views as when the Feds start to raise rates, we should see AUDUSD reach more towards .0800 in the FX market.