Market Update

By Jane Foley
18 November 2009 @ 09:11 am EDT

Gains in EUR/USD accelerated in European hours before EUR buyers emerged at 1.4960. Softer stocks in Japan kept the lid on the risk trade in Asian hours but a better tone in European equities indices has coincided with a softer USD against the EUR, AUD and the NZD.  Sterling has been subjected to a choppy morning.  The pound initially plunged on the back of the release of the Nov MPC minutes.  However, the unit has subsequently recovered.  The softer USD has spurred gold to a high of USD1148.10 /troy ounce this morning.  

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