Forex Flash: Asian calm ended abruptly in Europe – BBH
FXstreet.com (Barcelona) - The relatively calm foreign exchange market and equity market in Asia ended abruptly in Europe note Brown Brothers Harriman analysts.
Whilst they feel that it is difficult to find a culprit, they suspect that position squaring in thin markets may be the cause. Consequentially, the Euro has come off a cent, drgaging on the Franc.
They write, "The MSCI Asia Pacific Index gained more than 0.5%, while European bourses are broadly lower, with the Dow Jones Stoxcx 600 off 0.3% near midday in London, led by utilities and financials. Fixed income markets are subdued. Italy's bond auction was adequately received, especially holiday conditions."
Whilst they feel that it is difficult to find a culprit, they suspect that position squaring in thin markets may be the cause. Consequentially, the Euro has come off a cent, drgaging on the Franc.
They write, "The MSCI Asia Pacific Index gained more than 0.5%, while European bourses are broadly lower, with the Dow Jones Stoxcx 600 off 0.3% near midday in London, led by utilities and financials. Fixed income markets are subdued. Italy's bond auction was adequately received, especially holiday conditions."
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