Tuesday November 20, 2007 - 21:28:06 GMT
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FX Blog: Market Snapshot Far East Open
GVI Market Snapshot-- Far East Open
- FOMC meeting minutes sent mixed messages. Low growth scenario suggests lower rates in the future.
- 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.
- 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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