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Hardy: The dangers of trading short-term nervousness

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It's becoming a truism that the markets are nervous ahead of this week's FOMC meeting where we could finally see a rise in US interest rates. So how could you be trading forex amid such uncertainty? Saxo Bank's Head of FX Strategy, John Hardy has some suggestions as he says it's 'dangerous' to trade short-term nervousness, notably in spot.
John suggests taking a closer look at some other currency pairs. AUDNZD is particularly interesting, he says, and could provide some new opportunities. The minutes of the last Reserve Bank of Australia policy meeting will be released later on Monday. With EURCHF touching 1.10 again today, now may also be time to look at a longer play in the Swiss franc as traders appear to be repricing CHF to reflect a fairer value.