Archived IMT (2009.04.30)

Risk currencies backing off their highs despite the fact that US equity futures remain firmly in the green. Cable off 150 pips from its $1.4947 high, EURUSD a full cent down from its 1.3384 high, failing to breach above the key 1.3412 resistance. Watch the $1.4890 high, which serves as the gateway for renewed attempt towards $1.4980. Failure to do so on risk aversion could extend towards $1.4760. Key levels in S&P, Dow, FTSE at 880, 8,510 and 4,560 respectively.