Wednesday December 19, 2007 - 21:20:25 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- North America Mid-Session
- A number of mortgage insurer and other credit downgrades were largely taken in stride, but they were a modest weight on equities this afternoon.
- U.S. equity markets ended modestly lower. Fixed income prices are higher.
- Fed TAF auction results not greeted positively. Suggest LIBOR premia are here for a while. Earlier, the ECB drained EUR133.6bln in a one-day fine tuning operation after Tuesday's massive add. LIBOR fixing rates were down sharply.
- USD is mostly higher vs. the majors. GBOP ending very weak. The USD/JPY is about steady.
- BOE minutes indicated that the latest decision to cut rates two weeks ago was unanimous. They left door open to future ease.
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