Market updates - New York Session

10 March 2010 @ 06:17 pm EDT

The NY session brought about another rollercoaster in stocks but the overall flavor was for heightened risk appetite. US stocks have now rallied in eight of the last 10 days in broad terms, for a net gain of nearly 4% in that span. The oscillations elicited similar price action in the yen crosses. EUR/JPY jumped towards the 124 area after opening the session about 100 points below there - closing near the 123.50/60 zone. Meanwhile, USD/JPY rallied from 90.40 to session highs just above the 90.80 area (where the Japanese export community was ostensibly selling the pair), only to close back near the 90.50 mark.

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