Monday December 10, 2007 - 17:11:15 GMT
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FX Blog: Market Snapshot N.Y. Mid-Session
GVI Market Snapshot-- N.Y. Mid-Session
- The USD is lower vs. the majors. GBP is higher after a hotter than expected PPI report.
- Carry trade financing currencies (CHF and JPY) are steady.
- Aussie and kiwi are better. CAD is weaker.
- Dealers feel a -25bp rate cut on Tuesday is the most likely outcome.
- Equities are higher. Fixed income markets are weaker.
- Big sub-prime write-down by a Swiss bank keeping LIBOR funding issues on the front page.
- Pre-holiday and Fed volume appears to be relatively light.
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