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Theme of the day so far: Yen and Dollar Tank across the board!
By Sean Hyman | April 29, 2009
So far this morning, NZD/JPY is leading the way, up 2.46% while the biggest loser on the day is EUR/NZD. So the New Zealand dollar is strong so far this morning.
AUD/JPY, NZD/USD, CAD/JPY and EUR/JPY are the next leaders. So yen is weak across the board today.
The Mexican peso has pared some of its losses from the huge gap and runaway day the other day during the “Swine flu” episode. However, I’d expect another wave of peso selling to hit this currency soon. Therefore, that would push the USD/MXN pair back upward once again.
So with the yen and dollar tanking, you can say that the fear in the market has abated thus far. “Risk seeking”, rather than “risk aversion” is the order of the day.
Sean Hyman
www.forextradingblog.com
Tags: AUD, cad, currency, dollar, EUR, fear, forex, forextrading, jpy, market, MXN, new zealand, new zealand dollar, nzd, pair, peso, Sean Hyman, Swine flu, USD, Yen
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