Losses for the Australian dollar against major currencies continue into the US session, leading all G-10 movers. Earlier in the day, Reserve Bank of Australia assistant governor Guy Debelle said he expects lower capital inflows from mining, which have been supporting the currency. The New Zealand dollar continues to follow the Aussie lower. The Australian dollar has fallen 0.8% against the greenback, to US$0.9257, and down 0.8% against the yen, to Y93.85. Kiwi down 0.6% against the buck, to US$0.8576, and down 0.7% against the yen, to Y86.93.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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