Oct. 20: MARKET REVIEW
Pessimism over the economy was tempered and risk sentiment improved.
USD: San Francisco Fed President Williams and Boston President Eric Rosengren said that the Fed should end QE as planned at this month.
EUR/USD: on the upside in the area of $1.2760, but below last week’s high at $1.2886.
GBP/USD trades unchanged at $1.6100.
USD/JPY gapped higher at 107.20, Nikkei up as GPIF will lift ratio of domestic stocks to about 25%.
AUD/USD up to $0.8787: China announced its intention to inject $33B of 3-month loans into banks.
NZD/USD up by 40 pips to $0.7960.