Tuesday December 18, 2007 - 21:33:34 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- The ECB opened the spigots and flooded the markets with cash through yearend. This infusion took the pressure off LIBOR rates across the board.
- Pre-holiday thin markets have arrived.
- Many are looking for direction in. GBP weaker following softer than expected U.K. inflation data, which could provide the BOE with a window for additional ease.
- The commodity currencies are closing mixed. The RBA policy meeting minutes were hawkish. They leave the door open for a February rate hike.
- Equity markets closed better in the U.S. Fixed income prices are higher.
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