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Posted by fxrecommends@gmail.com on February 19, 2008, 3:38 pm
The British pound is still depressed by the publication of the
northern rock. The publication shows how much the financial situation
is serious and negative after the sub-prime mortgage problem impact
and how it can prolong without such governmental actions versus these
undiminished problems to support the crediting market.
The Japanese yen can keep gaining from the mistrust in the stock
market, the risk aversion apatite amid the current negative sentiment
of crediting problems and the increased expectations of a US recession
which can spread out especially after the recent disappointing
consuming sentiment US University of Michigan advanced figure of
February which was the lowest since 1992 which can show a tightening
outlook of the interest rate differential between the greenback and
yen as it is not clear yet whether or not that we are to watch a close
monetary easing in Japan too. In this same time the market is split
between another .25% or.5% awaited interest rate cut from the next
FOMC meeting.
The recent US inflation rates have reached the fastest pace in over
two years last November and were mild last December as Dec Core CPI
came as expected .2% m/m and 2.4% y/y and we are to closely watch the
rate of Jan by the end of this week to know how far this can cap the
current Fed's easing stance.
Best wishes
FX Consultant
Walid Salah El Din
Mob: +20 12 465 9143
E-Mail: mail@fx-recommends.com
http://www.fx-recommends.com
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