Archived IMT (2009.05.27)

A fairly well subscribed 5-year Treasury auction (bid/cover 2.32%) is not altering the status quo of selling the dollar across the board, even as equity indices remain near neutral territory. EURUSD may not have broken above $1.40, but retains its positive bias ahead for $1.43, while sterling remains above $1.6. EURGBP dropped below the key 0.8736 support (50% retracement of the 0.7700-0.977 rally) eyeing 0.86. Metals retail their gains while US crude hits fresh 6-month high of $63.85.