Intraday Market Thoughts

Archived IMT (2008.09.14)

by Ashraf Laidi
Sep 14, 2008 20:53

JPY SOARS, USD DROPS aross the board in early Monday Asian/Pacfic trade on NY Times Reports that Barclays will not buy Lehman Bros. On Friday, JPY rose and risk appetite fell across the board on talks that Barclays may buy part of of the troubled US investment bank. At 3.56 pm EST, USDJPY trades at 105.72 down from Friday's 107.80. EURUSD at 1.4280, AUDJPY at 87.68 from 88.50. If no buyer steps in, USDJPY to extend declines towards 104.80, EURUSD reaches above 1.44 as that would mean the liquidation of Lehman. This should FUTHER RAISE ODDS OF FED CUT This week.


Latest IMTs