As the worldwide downturn deepens
Throughout these past weeks, there was a remarkable rally in the Aussie and Kiwi dollars, a rush in equities and a push in the Japanese yen. Does this kind of action give us the sign that risk appetite is coming back? The trend in increase and interest rates would imply no; but fading vagueness can advise otherwise. From the currency market, the uncertain rebound in yield appetite was evidently mirrored in key crosses. All the liquid yen crosses marked considerable breakouts followed by rallies, maybe more a indication of fading risk adverse sentiment.
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