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Assian Session - Rates cuts Still Viewed as the Linchpin to Growth
Advancers and Decliners vs USD
JPY .67
CHF .23
GBP -.02
EUR -.09
The Yen barely moved against the dollar after the BoJ's decision to leave interest rates at .5 per cent after yesterday's meeting. It rose only by 0.3 per cent. to Y102.25. Over the last few months the Yen came under pressure as the markets were getting a semblance of stability following the capital injection by central banks, especially following the Bear Sterns debacle. Analyst initially...
Daily Forex News & Commentary: 04-10-2008
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Forex - Equity markets tumble around the globe on concerns over US economy
The dollar slipped against the Euro and British Pound hurt by continued concerns over the US economy. The equity markets tumbled, beginning in Shanghai and ending in New York. The International Monetary Fund announced that the US is slipping into a recession. The European Central Bank is expected to remain hawkish in its view on the euro-zone economy. Traders however will be particularly cautious as European economic data begins to soften triggering questions on how long the ECB can go on without cutting rates. The Bank of England seems ready to cut rates as the UK economy absorbs the effects of the credit and housing crisis. ..
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