EUR/JPY has fallen almost 100 pips from it’s NY closing level as events in Iran and North Korea remind the market that we are really only one big event away from a significant hiccup in the worldwide economic recovery. Risk aversion has been the name of the game, with both the JPY and CHF crosses giving up ground. The Nikkei and Kospi are both marginally lower, echoing the sentiments of the FX market. Nevertheless, remember my pet theory. The first move in Asia on a Monday morning, especially if it’s against the trend, is always wrong. Let’s wait and see.
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Risk aversion dominates the morning session
June 15 2009, 3:57am | Comments »
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USD looking sprightly this morning
USD/JPY is above 98.50 and EUR/USD is at 1.3970 as the USD looks a bit more attractive today, probably due to weekend events in Iran. The CHF is also a bit stronger on the crosses which confirms that there is some geo-political risk aversion plays taking place.
June 15 2009, 1:30am | Comments »
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