Thursday March 13, 2008 - 10:40:21 GMT
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FX Blog- Market Snapshot Europe Mid-Session 13 March 2008
GVI Market Snapshot- Europe Mid-Session
- The USD is heading into N.Y. trade sharply weaker gain vs. the EUR and GBP from late Wednesday levels. The carry trade financing currencies, CHF and JPY, are stronger as well.
- USD weakness has stemmed from risk aversion trades following word late in Asian trade that the Carlyle Group has run into financing difficulties. There had already been vague rumblings late Wednesday about new possible funding issues at some non-bank financial firms.
- Commodity currencies (AUD, CAD and NZD) are firmer vs. the USD. Gold is up and oil is steady.
- Asian bourses closed sharply weaker on financial market worries. Key European bourses are off sharply. U.S. stocks are seen opening lower. U.S. bond prices are up sharply.
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