Posted 14 hours ago: JPY emerges from the shadow of GBP amid a fresh ascent in global risk aversion. Markets to keep watch on Paulson/Bernanke's testimony shedding more detail on the immobilization of half TARP package. Keep close watch on Dow and S&P500 continue closing above the key 8,100 and 840 levels before considering fresh trades on the low yielding JPY. As in all JPY crosses, USDJPY tested test the bottom of a symmetrical triangle, at 95.50, but 95.80 has first to be ... ...Rest of Analysis Available to SUBSCRIBERS OF INTRADAY THOUGHS. - 2008.11.18 08:45

Posted 17 hours ago: Bigger than expected decline in UK CPI and heightened selling in US equity futures is further dragging GBPUSD from its $1.50 base. UK October CPI contracted 0.2% m/m vs. expectations of +0.1%. The year-on-year figure slowed to 4.5% vs. expectations of 4.8% from previous 5.2%, showing the first decline in annual inflation in over a year. The decline in core annual CPI to 1.9% from 2.2% vs. expectations of 2.2% also highlights the depth of disinflation, opening the door for as much as a 50-bp rate cut next month and enforcing GBP bears into prolonged selling. Interim target stands at ... REST OF ANALYSIS AVAILABLE TO SUBSCRIBERS of INTRADAY THOUGHTS. - 2008.11.18 05:03

Posted yesterday: DAILY CHART of Sterling Traded-Weight Index is now added to the homepage, showing the currency performance against a basket of 46 currencies as determined by the Bank of England. As of Nov 14, the index is down 18% year to date, hitting its lowest level since May 1996 and tumbling 16% below its daily average of the past 18 years. - 2008.11.17 22:46

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