Most markets have only made modest gains/losses in the Asian and European sessions but this conceals more significant developments. On a closing level gold has reached a new 3‐year low; while several currencies remain at or close to extremes, China’s money markets remain under pressure even as the PBoC steps inand its equity markets are down 2%, the Fed’s balance sheet hasreached $4trn, the Senate has pushed out confirmation of Janet Yellen until 2014, while today will mark quadruple witching in markets leadinginto a holiday filled week.
Read the full report: FX Daily
Scotiabank