24 Oct 2013
Flash: The overnight news remains friendly, Yen range trading. - Societe Generale
FXstreet.com (London) - Kit Jukes, Head of currency Strategy at Societe Generale said that the overnight news remains friendly.
Key Quotes:
“Risk appetite was suffering from fatigue yesterday”.
“That's not surprising given the speed of adjustment to a risk-friendly world. The S&P has bounced 100 points back to the top of a trend, the Indian rupee has recovered over 10pct to regain half of the summer weakness”.
“This doesn't mean the risk rally is over, just that 2013 is characterised by step adjustments rather than gentle trends - USD/JPY from 75 to 100 in a heartbeat followed by range trading, the step up in forward interest rates from a little above 2pct in the US to a little under 4pct, and so on”.
Key Quotes:
“Risk appetite was suffering from fatigue yesterday”.
“That's not surprising given the speed of adjustment to a risk-friendly world. The S&P has bounced 100 points back to the top of a trend, the Indian rupee has recovered over 10pct to regain half of the summer weakness”.
“This doesn't mean the risk rally is over, just that 2013 is characterised by step adjustments rather than gentle trends - USD/JPY from 75 to 100 in a heartbeat followed by range trading, the step up in forward interest rates from a little above 2pct in the US to a little under 4pct, and so on”.