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Euro regaining a little poise after yesterdays’ hit.

By   || October 1, 2008 at 07:57 GMT
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EUR/USD is up presently at 1.4140, with the euro regaining a little of its’ poise after the tonking it took Tuesday. There appear to be a myriad of reasons being given for the sharp sell-off. Among them, in no particular order, are continued deleveraging in a risk adverse market with the USD seen as a safe haven of choice; growing worries over the health of euro-zone banking sector; quarter end USD funding demand, hopes that a U.S. bailout is just round the corner, rebound in U.S. equities, speculation the ECB could be ready to ease policy at their meet tomorrow, technicals, particularly large EUR/GBP order etc etc. A lot of these are obviously interwoven and I’ve probably missed something out, but you get the picture. It wasn’t just one thing, rather a combination of factors which were at play. Given the speed of the euro’s decent you’ve probably got to think any further recovery, if it comes at all, is going to be fairly careful and choppy.

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No Responses to “Euro regaining a little poise after yesterdays’ hit.”

  1. PeterK on October 1st, 2008 08:24 GMT

    Greetings Gerry. Why did you remove your last post?

  2. Gerry Davies on October 1st, 2008 08:31 GMT

    Morning Peter, it’s probably only temporary and should be back up there now. sometimes i spot a mistake and will take piece down to correct and that’s when it disappears.

  3. dennis.yanez (fxquant) on October 1st, 2008 08:47 GMT

    Peter, if you are referring to the post re: Juncker and Trichet, I deleted since it was a “cut and paste” from other sources not original material.

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