Thursday November 8, 2007 - 21:20:12 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- Markets are closing cautiously ahead of a half-day session Friday in the U.S.
- CB decisions were as expected with no changes in key target rates. ECB President Trichet might have engaged in some verbal tightening, but did not signal a future policy tightening. By use of the code word "brutal", he engaged in verbal forex intervention.
- Bernanke did his obligatory inflation hand-wringing, but sent a message that the economy is slowing and that the Fed will be supportive of future growth.
- Commodity currencies are weaker.
- Equities closed weaker.
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