Currency Update: An agreement to end the US fiscal impasse has broken down yet again. There were reports last night that the Senate was close to a budget...

Currency Update: An agreement to end the US fiscal impasse has broken down yet again. There were reports last night that the Senate was close to a budget agreement that would keep the government running at current spending levels until 15 January 2014 and extend the debt ceiling until early February 2014. However during the US session it became clear that the Democrats would not agree to a deal. The AUD/USD has been the strongest performer amongst its peers over the past 24-hours. AUD/USD pushed above 0.9540 overnight, to its highest level since mid-June, before returning to trade around 0.9515. The EUR and GBP both fell in early London trade on the weaker-than-expected German ZEW survey. The USD was sold-off again overnight with the US government shutdown now entering its 14th day and the Thursday deadline fast approaching.. Today's Forecast Range: USD 0.9470 - 0.9560