Intraday Market Thoughts

Archived IMT (2009.12.14)

by Ashraf Laidi
Dec 14, 2009 5:30

DOLLAR & YEN DROP ON Abu Dhabi's last minute intervention to help Dubai World to repay Nakheel PJSCs maturing bond of $3.5 bln. GBP, which was at most risk of a Dubai failure is leading the FX fally against USD. GBPUSD seen retesting $1.6380, EURGBP seen targetting 0.8960 and GBPJPY capped at 145.50. Gold looks to break above 1,130, which could pave the way for 1,155.


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