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US SESSION: RALLY IN RISK APPETITE LOSING STEAM, DOLLAR RISES.
The dollar gained strength against the majors as rally riskier assets subsides in early trading. The EurUsd fell a bit over 100pips to the mid 1.29 level, while the UsdJpy moved slightly lower to 95. The GbpUsd dropped 125pips to the mid range of 1.53, consistent with the pullback in other asset classes. Equity markets opened lower in the US with the Dow down 100pts, following the trend of European stock indexes. Commodities are mixed with crude oil higher by 2.3% at $51bbl, and gold marginally lower at $814oz. Bond yields fell with the 10 and 30yr tighter by 10…
26Nov2008 | Advanced Currency Markets | 0 comments | Continued
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