Intraday Market Thoughts

Archived IMT (2008.09.09)

by Ashraf Laidi
Sep 9, 2008 21:40

JPY extends gains on escalating equity losses, dragging down USDJPY towards 106.50 objective (mentioned below). Latest article on GSEs pointed out that post-Treasury interventions have seen their market gains shortlived. Monday's GSE bailout generated a rally that lasted one day. Risk appetite remains impaired. Deeper losses seen in Asia. USDJPY eyes 105.00, until relief is seen in next week's FOMC decision.


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