Mid-Day Report: Yen Extends Rally as Risk Aversion Dominates

19 November 2009 @ 05:33 pm EDT

Risk aversion dominates the markets as global stocks pay little attention to upgraded forecasts from OECD and weaken broadly. Japanese yen is the biggest winner with persistent strength seen today. Dollar also followed as gold dips to 1133 but subsequent recovery in gold but dollar buys are still hesitating to send the dollar index through near term resistance as Gold recovers in early US session. Aussie and Kiwi are the biggest losers in risk averse sentiments as usual with NZD/JPY dropping over -2.5%.

Copyright 2009 ActionForex, All rights reserved.

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