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Quiet start to interbank trading week

By   || July 5, 2009 at 20:32 GMT
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The interbank market is up and running and it has been quiet thus far. EUR/USD is at 1.3965, USD/JPY at 96.15, and cable at 1.6325. The two major factors which have moved the market in recent weeks, risk-aversion and reserve-currency talk, will again be the plays for this week I assume.

China continues to dominate the market flows, especially in the EUR and the AUD, and now that the northern hemisphere holiday season has begun, I expect the range trading mentality to stay with us through August.

Good luck today.

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