Wednesday October 7, 2009 - 09:33:25 GMT
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GVI Forex Discussion Points 7 October 2009 Morningfrom...
GVI Forex Discussion Points
"The fallout from the RBA rate hike continues to be felt. It has triggered a run into commodity currencies and commodities. We call them the business cycle trades. That the markets might be getting ahead of themselves, as demand in Europe, North America and Asia still looks to be fragile. The scenario has also manifested itself as USD weakness.
The JPY is also in demand, even though the Japanese economy remains weak. We are waiting to see when the important Japanese export sector starts to lean heavily on the Finance Ministry of the new government to contain the JPY..."
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