Forex Daily Analysis - Wednesday, Sep 12nd

Further Weakening of the USD Expected. USD continues lower

The market is pricing in a Fed rate cut and that the fall-out from subprime mortgages will be contained. We expect EURUSD to test recent highs at 1.3852 within this week as the market participants are betting that the Fed will cut rates on the September 18th meeting.

O/N Data Heat map:

EU	US	JP	UK	SZ	AU	CA	NZ	NO	SE	FR
		-	-			+			-

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