Given the news overnight, I would have expected EUR/JPY, the canary in the coal mine, the market risk barometer, to shoot higher and drag USD/JPY with it. I would not have expected the EUR/USD leg to end up closing on its highs, give or take, but I would have expected the USD/JPY leg to be the leader. That’s what makes markets weird and wonderful, their shear unpredictability.
What would a tumultous week in the market be without some comments from the Maestro, Alan Greenspan. Greenspan tells CNBC that he supports the bailout plan and backs Paulson and Bernanke but says the plan should be temporary (like all those depression era institutions like Fannie Mae and the FDIC?).
Have a great weekend all. Hopefully next week will be a less dramatic.
