Tuesday November 20, 2007 - 17:04:08 GMT
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FX Blog: Market Snapshot N.Y. Mid-Session
GVI Market Snapshot-- N.Y. Mid-Session
- Still waiting for the FOMC meeting minutes.
- Early rumors, reportedly out of Hong Kong that the Fed would hold an emergency meeting today to decide to cut rates are said to have started the USD lower. It could be that they were focused on the release of the Oct 31 meeting minutes this afternoon.
- Rate cut rumors have no credibility with U.S. observers.
- The JPY has lost ground vs. Europe.
- The commodity currencies are better.
- This week sees the major U.S. holiday (Thanksgiving Day) on Thursday. U.S. markets will close effectively from mid-Wednesday onwards.
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