Monday February 11, 2008 - 11:37:26 GMT
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FX Blog: Market Snapshot Europe Mid-Session
GVI Market Snapshot-- Europe Mid-Session
- The USD is opening generally lower vs. the majors from late Friday levels. The EUR got a boost from hawkish post-G7 comments by ECB President Trichet. The G7 turned out generally to be a non-event for the market as there was not a lot of common ground for action.
- The JPY is firmer in line with the generally softer USD. Japanese markets were closed today for a local holiday.
- The GBP is firmer following hotter than expected U.K. output prices today. The data were seen as puting the brakes on additional immediate ease from the BOE.
- The commodity currencies (AUD and NZD) are trading higher (CAD is steady) following hawkish comments by the RBA. The Reserve Bank hinted that another rate hike is likely in March.
- In Japan the Nikkei was closed. European bourses are weaker. The early call for U.S. equities is for a mixed to higher open. U.S. bond prices are steady.
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