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Soon after the ECB minutes report, the US$ index broke from the highs of 92.25 reaching back to the monthly low of 91.54, raising the question once again whether this price level is breachable to the downside and I strongly believe that it is now that China's decision against the US Treasuries has came forth, along with reduction the the monetary easing by ECB and to a greater extend the backfiring of withdrawing from the NAFTA agreement that USA has failed to evaluate. I have short a position of USD/ZAR but unfortunately, within the past some hours the property stocks in South Africa took a plunge due to concerns of debt levels and mostly the investors being foreigners, there has been a sell off of the ZAR. I do expect that the affect of this will be temporary and going in to next week, we should see USD/ZAR return back to the lows of 12.20-12.30, if it does go crash below 12.
