After some panic selling of the USD on Friday afternoon in NY, the new week has opened, at least for the interbank market, in a more subdued fashion. The greenback is clawing back some of those losses and is trading currently against the majors at; EUR/USD 1.2800, USD/JPY 93.45, Cable 1.4400, AUD .6435 and USD/CHF 1.1570.
The gross uncertainty regarding the fate of Citigroup and BoA has eased somewhat but the market is nervy and volatility should remain high.
Good luck today.
