Intraday Market Thoughts

Archived IMT (2008.12.03)

by Ashraf Laidi
Dec 3, 2008 18:54

Risk aversion trades quickly being put back in with the yen dragging down all major currencies as USDJPY, EURJPY and GBPJPY near 92.50, 116.85 and 136.33. GBJPY had remained supported above the 136.50s over the past 5 weeks but may fail to hold in light of the major event risk ahead -- tomorrows BoE rate decision and Fridays payrolls, And even though USDJPY remains consolidated in a declining channel, with 91.30 acting as a possible target for downside surprise in event risk. But I warned yesterday of the potentially positive impact on GBP, EUR ...


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