It's RORO (risk-on-risk-off), not fundamentals, that dominates currency markets and makes them...

|By:, SA News Editor

It's RORO (risk-on-risk-off), not fundamentals, that dominates currency markets and makes them trade "through the looking glass," aruges HSBC's David Bloom. Analyzed in this fashion, the lifting of the U.S. debt ceiling - averting a crisis and thus being good news - should lead to a sell-off in the greenback.