Intraday Market Thoughts

Archived IMT (2009.01.28)

by Ashraf Laidi
Jan 28, 2009 9:19

TO BUY OR NOT TO BUY. All eyes will be on the FOMC's decision on whether to buy long term treasuries as it signalled in the last meeting. Dollar already falling across the board on these expectations. Since dollar weakness is not an issue with the US central bank, buying long term treasuries may be a viable option, in which case we could see broad USD weakness. CABLE seen targetting $1.4380 and $1.4450, but EURGBP may not fare as well, as it is seen dragged towards 0.9200


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