Forex – EUR/USD, USD/JPY Flows – USD/JPY charges lower
Published at 12:49 (GMT) 07 Sep Still looking south with N.Am back into the fray and sticking with the ‘risk off’ theme. Going to need more downside from equities for a look support at 1.2700/10 on EUR. Meanwhile, USD/JPY is not putting up much of a fight as prices head for a new 15-year low below 83.50/55 while offers are in charge. SI
London Session
European banking concerns resurface, Key central banks leave rates unchanged A news report released overnight showed that European stress tests understated some holdings of sovereign debt. While the report weighed on the euro, it did not come as groundbreaking news to many. Investors questioned the credibility and rigors of the Committee of European Banking Supervisors (CEBS) stress tests back in July. In addition to the renewed banking concerns, Europe’s strongest economy showed signs of