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Archived IMT (2009.11.12)

by Ashraf Laidi
Nov 12, 2009 10:28

YEN IS STRONGEST PERFORMER as Asia fails once again to fails to respond to the US equity rally. Unexpected creation of a net 24.5K jobs in Australia made the Aussie second best performer against USD (after JPY). As we said in this weeks article, risk aversion plays will likely prove most positive for JPY than for USD, especially as the US currency is capped by the Feds dovish remarks and pressure on China to revalue. GBPUSD still seen at 1.6480, EURGBP fell 5 pips short of the 0.9070 target, while EURJPY fails again at 135.50 before heading back towards 134, and will likely retest 133.60.

 
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