Yesterday’s trading session was marked by a mild bounce in the US dollar into the end of the month, amid encouraging signs that this afternoon’s US GDP might yet be a mild overshoot, but against the ever-present continuing saga that is Washington and the Congress. Some backtracking from Wednesday’s over-reaction has played out too. After testing well above the 80 figure yesterday, the AUD lost momentum into the London session as the USD recovered some of its mojo, the AUD/USD trading back down below the figure, currently around its session lows at 0.7965/70. Commodities have been mixed, there’s been little change in base metals (nickel has been the exception, up another 0.9%), iron ore is off marginally, gold up by $8.70/oz to $1264.40, while oil has made some further gains. The Euro and Sterling are also weaker since I posted 24 hours ago, the latter even after a stronger than expected UK CBI Retailers Survey reported a notable pick-up in sales.