Forex | Forex | Currency markets are starting the week cautiously (31/08/2009 13:49:19)

Currency markets are starting the week cautiously

Market Summary Currency markets are starting the week cautiously, favoring the US dollar and the Japanese yen. Elections in Japan produced the opposition DPJ as a clear winner, but the yen’s reaction has been somewhat underwhelming. Given widespread declines in global equity markets, including a 6.7% drop in Chinese stocks, we would lean towards attributing most of yen’s strength to unsettled market conditions this morning. While the Australian and New Zealand dollars are predictably


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