Intraday Market Thoughts

Archived IMT (2008.12.18)

by Ashraf Laidi
Dec 18, 2008 20:28

back to risk aversion trades as USD rises along with JPY on deteriorating GE outlook from S&P dragging equities lower. Short USD trades against EUR, GBP and antipodeans (AUD, NZD and CAD) could reduce exposure by prompting short positions in these high yielders against JPY. EURJPY underpinned by 121.60, AUDJPY showing imprioved signs of stability and reduced volatility backed by TL support at 57.60. GBPJPY faces record low of 132 andcapped at interim TL resistance at 138.


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