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Non Farm Payrolls provides temporary relief on the dollar as markets forecast further Fed rate cuts

"U.S. Dollar Trading (USD) eased on Friday despite a mid session rally. Mid way through the New York session the Dollar was boosted by a positive Payrolls reading with figures coming in at 166K, well above expectations of 80K jobs for the month of October."



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China to diversify its foreign reserves as stock prices drop

"U.S. Dollar Trading (USD) eased once again across the board before being relieved as sell off in global stock caused risk aversion to take its course. Many of the moves came during the Asian session as comments by a Chinese official stoked fears the central bank of the world’s fourth largest economy would reduce its holding of US assets, referring to the Euro as an alternative. "



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Barclays causes market jitters by suspending trading. High yielder’s tumble on a plunge in stock prices.

"U.S. Dollar Trading (USD) rallied to end the week as risk aversion aided the dollar in relieving much of its pressure against a basket of majors. Federal Chairman Bernanke indicated to the market that the economy will continue cool “noticeably” for the remaining fourth quarter causing the markets to price in further rate cuts out of the U.S. Much of the dollar strength came after prominent risk aversion markets fuelled by carry trades unwinding prompted by a drop in stock prices. In U.S. share markets the NASDAQ was down - 68.06 points (-2.52%) whilst the Dow Jones also tumbled -223.55 points (-1.69%). Crude oil rose by US$0.86 a barrel to US$96.32 "


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Rebounding global stocks boost appeal for carry trade

"The Euro (EUR) moved higher on a broadly weaker dollar and reports which confirmed economic growth had gained 0.7% in the third quarter."


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USD weaker as Fed warns on future rate cuts. Rebounding stocks reignite carries

"The Japanese Yen (JPY) eased on Friday pairing some of its weekly gains following a rebound in U.S. stock prices, which gave confidence to traders looking to re-build long carry trade positions."

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BoE Decision today: market clearly voting for a cut. ECB's Trichet in a tough spot at today's press conference.

"Yesterday was key for the USD, as the dollar index made a new high since early November and is now trading a fraction of a percent below the 55-day SMA."

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The Pound inclined against the Yen as investors returned to Carry Trades
The Pound inclined against the Yen as investors returned to Carry Trades, the technical parameters adjusted to show an upside potential to progress the pair's upside general trend, the targets are set to be at the 229.10s then 230.30s, and the point at 226.08 seems to offer good demand for the pair.
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Central Banks announce joint venture to ease short term funding pressure. USD reverses it rally.
U.S. Dollar Trading (USD) eased from it previous session rally, post Fed rate cut on Tuesday. The dollar further weakened as central banks announced a joint effort to ease the credit squeeze by encouraging short- term lending among financial institutions.
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US Inflationary data strengthen dollar. Japanese business sentiment at 2 year lows.

The Euro (EUR) ended the weak down 1.5% against the USD, its largest weekly decline since August 2007, on views that rising consumer prices would prevent the Federal Reserve from easing rates in the near term. In Eurozone specific data, the HICP was released flat on consensus.
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BoJ minutes show concern of U.S. economic slowdown.

"The Japanese Yen (JPY)
Overall the USDJPY traded with a low of 113.93 and a high of 114.39 before closing the forex trading day 114.32 in the New York session. A heavy data day is scheduled for Friday. "


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