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Risk-Aversion Buoys JPY, BoC Awaited

Discussion in 'Forex Daily News & Outlook' started by honeyks, Dec 8, 2010.

  1. honeyks

    honeyks New Member

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    Risk-aversion continued to dictate market direction, with the Japanese yen touching a fresh 15-year high against the dollar while most of the major currencies tumbled against the greenback. The Canadian dollar slid by 1.2% and the euro dropped by more than 1.5%. The US equity bourses slid after returning from the long-weekend, with the major indexes shedding more than 1%. Meanwhile, safe-haven flows propped spot gold it’s a new record higher to settle around $1,257.30 per ounce while crude oil drifted lower to dip beneath the $73-per barrel mark.
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