Currency Pairs: Risk Aversion Continues
November 27, 2009 by Seeking Alpha
Filed under Tips
Original Article from Seeking Alpha Dollar Currencies
The LFB submits:
Overall, the market stayed in a strong risk-aversion mode on Friday morning, something that sent the majors pairs lower at a very strong pace. Shortly after the opening of the European session, the majors pairs managed to set a bottom and retrace a part of the selling seen earlier in the session. In order to achieve this, the major pairs were helped by the cash and equity markets, which bounced off important support levels.
The USD/JPY touched 14-years lows overnight after the Japanese Finance Minister threatened to intervene in the currency market. Ahead, the macroeconomic calendar is empty of any important news reports, something that might allow the market to absorb the latest fundamentals.
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