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Custody names turn their attention to USD/JPY
By admin || October 14, 2008 at 19:16 GMT
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Friday and Monday, custody banks were huge buyers of dollars versus euros. Today, they have turned their attention to USD/JPY. They are helping ramp USD/JPY into the 101.90s from the 101.50, helped along bu a rebound in equity markets. The Dow was down 300 at one point but has cut those losses to 120 points at present.
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