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Article: Currencies Absorb Weaker Housing Data (Midday Snapshot).
- Article from:
- Mena Report
- Article date:
- May 19, 2009
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MIDDAY SNAPSHOT & ANALYSIS OF SELECTED RATES The positive sentiment and bid in higher yielding currencies overnight on the back of the news that some of the major US banks would be looking to repay TARP, fizzled out somewhat in early New York, with the much weaker than expected housing data once again weighing on investor confidence. Overall housing starts fell to a new record low with a 12.8% decline to a 458k annualized rate. However, heading into the London fix, there was good demand for currencies on dips, as equities also managed to find their way back into positive territory. The biggest gainers on the day have been the antipodean currencies, with the higher yielding ...