Tuesday November 13, 2007 - 23:09:44 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- Liquidating markets Monday saw corrections on Tuesday.
- Position traders have been hurt and many now are likely to resort to hit-and-run trading tactics into the pre-Christmas break.
- Recall those reported BIS EUR/USD offers last week at 1.4700? If true, they worked.
- Unlikely to see a rush back into carry trades again soon.
- The commodity currencies have rebounded after having been slammed on the carry trade unwind.
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