ForexLive Americas wrap: China, polls, Fed-talk and a side of BOC via ForexLive

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Forex headlines for September 16, 2014:

The US dollar was slammed down midway through the session on the combination of the China story and dovish talk from Hilsenrath. Far too many people gave Hilsenrath credit when China was the main driver. Goldman said the injection was the equivalent to a 50 bps reserve ratio cut. Before that, the thinking was that China would stay on the sidelines and let the market get squeezed.

The Aussie was the first to rally and it ripped to 0.9111 from 0.9025. The commodity bloc in general was the biggest winner and a more constructive tone from the BOC also gave the Canadian dollar a lift. It's been brutal trying to latch onto a USD/CAD trend lately and the 120-pip reversal in the past two days has been tough to swallow. Maybe it will perk back up after the Fed.

Cable traders were absolutely miffed and frustrated by a wrong headline saying the ICM poll showed the Yes side ahead. The pound was smashed down to 1.6240 and then ripped right back to 1.6275 on the quick correction. Lots of polls scheduled in the day ahead but the latest ones all showed 52-48 for the No side.

posted via ForexLive

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Posted In: ForexGlobalEconomics
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