Nagging concerns that global growth might not be as robust as earlier assumed is undermining the risk trades like AUD/JPY, AUD/USD, USD/ZAR today.
AUD/USD revisited session lows in the 0.9025 area after the poor US home sales data and news that Goldman revised its US GDP forecast for Q3 lower. We trade now in the 0.9043 area as losses are consolidated. Large stops are rumored below the 0.9000 level.