Archived IMT (2008.11.25)

Markets require a catalyst to trigger partial end-of-year reversals and today's Fed announcement is an ideal catalyst. This by no means implies that the worst is over in the economy and the financial markets, but stability may be here to stay for most of the next 4 weeks. Such environment suggests a weaker dollar against EUR, GBP, CAD, AUD and NZD, but a stable USDJPY above the 93 figure. SEE EURUSD CHART IN PREVIOUS ARTICLE for illustration of previous reversals.