Archived IMT (2008.11.27)

The forex market reaction to the deadly terrorist attacks in Mumbai had initially failed to emerge as the usual safe heaven currencies --Japanese yen and Swiss franc--showed insignificant gains during the US Wednesday session, but this changed during the Thursday Asian session as the crisis unfolded into hostage standoffs in several areas in Mumbai and the death toll surpassed the 100 mark. JPY's response became more noticeable in the latter hours of Tokyo trading when the low yielding yen advanced despite ... COMPLETE TEXT AVAILABLE TO SUBSCRIBERS.