Tuesday October 30, 2007 - 20:39:57 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- USD turned weak during the day following a much weaker than expected Conference Board Consumer Confidence index.
- Traders setting up for a -25 bp (94% odds) Fed rate cut on Wednesday. A WSJ article by Greg Ip cast doubt on the certainty of a rate cut. It appears that this was sloely his opinion. He said that a -50bp cut is seen as improbable.
- The commodity currencies are steady to lower vs. the JPY.
- Equities ended weaker. The JPY pairs were not trading very closely with equities today.
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