Thursday February 21, 2008 - 21:43:50 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- The USD is closing lower again from late Thursday levels. The EUR and GBP are significantly better. The GBP has gotten a big lift from stronger than expected U.K. retail sales. The carry trade funding currencies (CHF and JPY) gained vs. the USD with a lag.
- Forex dealers reacted negatively to a much weaker than expected Philly Fed Survey and to talk about a possible impending reserve rejuggling favoring the EUR by the Russian Central Bank.
- Oil fell, but gold prices continued to rise.
- The commodity currencies (AUD, CAD and NZD) are mixed, but mostly higher. Dealers are keeping a wary eye on the USD and commodity prices.
- Asian bourses closed mixed. Key European bourses ended higher. U.S. equities fell following the Philly Fed data. U.S. bond prices are ending higher at the short end of the curve.
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