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US SESSION: EQUITIES SINK FOR SECOND STRAIGHT SESSION, STERLING SLIDES
The dollar rallied in today’s trading session, as the risk aversion overtook the marketplace. The EurUsd fell 35 pips to the mid 1.24 range, while the UsdJpy dropped 200 pips to the high 93 price area. The GbpUsd declined 225 pips to the low 1.47 level, as Traders selloff high yielding assets. Equity markets tanked in the US with the Dow down an additional 5.5% or 444pts to 7552. European stock indexes were also negative with the SMI down 4% or 217pts, along with the FTSE, CAC, and DAX down more than 3% each. Bond yields collapsed as the 2yr…
21Nov2008 | Advanced Currency Markets | Comments Off | Continued
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