Wednesday March 12, 2008 - 22:57:12 GMT
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FX Blog- Market Snapshot Far East Open for 13 March 2008
GVI Market Snapshot- Far East Open
- The USD is heading into Asian trade sharply lower vs. the EUR and GBP from late Tuesday levels. The carry trade financing currencies, CHF and JPY, are stronger as well.
- USD weakness seemed to stem from diversification activity by Middle East players and also on additional liquidity worries.
- Commodity currencies (AUD, CAD and NZD) are firmer vs. the USD. Gold and oil are up.
- Asian bourses closed mostly better today in response to the U.S. gains on Tuesday. The Shanghai Composite fell. Key European bourses have added to their gains from Tuesday. U.S. stocks ended lower. U.S. bond prices rebounded.
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