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Forex - USD/YEN, USD INDEX Flows - Nikkei 5-m high above 10K; S Korea capital measures
Written by article default Thursday, 18 November 2010 11:18
Some risk appetite back for now, as Nikkei climbs back above the key 10,000. Nikkei +2.02% or +198.40pts at 10,010.06. Some focus on S Korea capital flows measures later at 0700GMT. S Korea finmin says govt to reintroduce withholding tax on foreigners' bond investment to cap hot money. On FX, interestingly, USD/KRW is lower at 1,134.60/30 from 1,141.50 - possibly buy the rumours, sell the facts news. But not surprised to hear BoK/ agents buying on dips to support 1,130 handle. USD/JPY at 83.25-30, offers at 83.50-60, bids at 83.00-10. USD INDEX at 78.763, interest to buy USD on dips, sell EUR, AUD, GBP on rallies given current eurozone crisis, and also on Fed QEII criticism even as Fed Chair Ben Bernanke defends.