Eyes are glazing over in London as factions within the G20 fight over arcane bank regulation frameworks. France and Germany want to use Basel II, an accord that has been in place for more than 15 years (and did not prevent the banking crisis) while the US wants to go in another direction. Yawn.
Markets are eying one another warily with the dollar leading equities around for a change. The dollars slide sent the S7P up to 1015. We’re only about two percent from recent highs as we near the end of the week. So much for Monday’s big slide…
EUR/USD trades at 1.4312, USD/JPY at 93.00 and AUD/USD at 0.8515.
